Quoted By:
Chain lube is basically just grease mixed with a volatile carrier that allows the lubricant to penetrate the chainlinks - wet formulations have more grease, making them thicker and more resistant to water, but they tend to trap more dirt, while dry lubes generally do a better job reducing friction at the expense of being quicker to wash away when you ride in the rain or through a puddle. Ceramic, teflon, and liquid wax* lubes contain tiny particles that improve a formula's lubricity, moisture resistance, and service life, without making the chain sticky and vulnerable to picking up dirt.
Ultimately, which chain lube you should use is really just a matter of opinion and preference as long as you're using something that isn't pure grease (does a good job lubricating chains but will trap lots of dirt) or wd40 (which is mostly kerosene, which evaporates off very quickly). Personally I have used Finish Line teflon lubes for the past decade and been very happy: wet for my commuting bikes, dry for recreational bikes. But I know other people who swear by Boeshield T9, others who love Rock n' Roll, one guy who only uses Phil Wood. Which lube you use is less important than making sure your chain stays lubed and that you wipe any dirt or excess lubricant off your chain on a regular basis.
*The most effective lube on the chart, paraffin wax, is not a liquid product - to treat your chain with paraffin you have to get your chain perfectly clean and dry, then submerge it in melted wax. The practical difficulty of doing this is why waxing chains isn't very popular despite its effectiveness.
