This pigment came into commercial use in 1884. Sometimes it is referred to as lamp black, or less commonly furnace black. Originally, lamp black was made from the soot from lamps or fireplaces. Modern carbon black is pure carbon and is made from partially combusted mineral or vegetable oil. It became the most economical black for many applications due to its surprisingly high tinting strength.
One of the most important things to note about this pigment is that it can be awkward to use due to its high tinting strength and small particle size. For example even after blending for a long time with another colour, streaks of black may still be showing in the mix. On the other hand, it will interfere with the saturation less in a mix, which keeps the colour fuller and darkens it the most. Further, even the smallest amount of carbon black in a mixture will create large incremental jumps in dulling and darkening the mix. Carbon black is not the blackest or the most jet black, despite its high tinting strength. However as the paint film is very shiny it gives a very black appearance. One of its great abilities is in glazing. Because it is the most transparent black, it will impart an even and transparent darkening with the least light interference possible when heavily diluting with water in washes or with clear acrylic mediums in glazing techniques. Once you are used to the special qualities of this black pigment it can become very valuable. See choosing blacks