Hardware-locked licensing “locks” the software to a particular computer. This method means that for each license, you can only use MetricMonkey on a single computer.
Floating licences borrows a licence from a “pool” of licences. This method means that anyone in your organisation can use MetricMonkey as long as a license is available. Once a user closes MetricMonkey, the license is returned into the “pool” so that other users can use it.