I always thought efficiency meant more vapor produced per each pull and therefore a higher liquid consumption - more nic delivered into your system compared to an inefficient tank.
Actually, vapor is a side effect of vaping...which sounds so backwards I just second guessed myself...but gimme a minute...I remember being taught this lesson.
[cue Jeopardy music]
Ok, have you ever flooded (or partially flooded) a build? And you notice that there was much less vapor, and the dreaded gurgling? That's why more juice doesn't always make more vapor. It can smother the build.
So, most tanks are designed to work within a small spectrum of the air-to-juice ratio.
More air, less vacuum on the tank, less juice delivered to the build.
Less air, more vacuum on the tank, more juice delivered to the build.
My point is in here somewhere...hang on a second...
[digs through backpack]
When the air-to-juice ratio is as balanced as possible, your build will atomize the mixture, creating vapor, and deliver it to your mouth/lungs.
The Kayfun is a very well designed device, because it is very forgiving when it comes to creating that balanced air-to-juice ratio. This is why it is a more efficient nicotine delivery system.
And if you are atomizing your juice more efficiently, you don't need as high a level of nicotine, because you're getting the most from a lower level. An inefficient vaping device will need a higher level of nicotine, to essentially make up for its poor delivery...kind of brute force "shove it in there" performance.
It may be helpful to use the analogy that guides most of my humble collection of vaping knowledge...
I view the Kayfun as a carbureted engine, and try to balance the air-to-fuel ratio as best as possible. The exhaust is the vapor, which is a side effect. Much like I tune my carburetors by the smell of the exhaust, we can tune a Kayfun's build by the amount of vapor produced, especially when we consider the airflow as part of the build.
Your mod/device/battery is just the ignition and/or computer that starts the engine, and (in the case of regulated mods) monitors the input/output and other aspects of the whole set-up!
Again, all my own opinions and views, gathered and created from my life experience with automobiles, and various vaping devices.