Currently, Chromebook only supports sleep, shutdown, and restart modes of power. Although soon there will be hibernation on Chromebook.
What do you miss on Chromebook due to lack of hibernate option?
A user can at most choose to put her device on sleep in Chromebook. When asleep, the operating system of the device is on pause. Unused applications which consume power are also put to sleep. Although this may not suffice to ensure a long back up from battery. It is because the RAM is still functioning. RAM drains power.
So, all that a user has is to either shut down her device completely or put it to sleep for a short duration.
What is hibernation?
Most of the operating systems offer the feature to hibernate devices. On hibernating a device, the temporary data from RAM is collected and preserved in storage. At the same time, the device is also shut down. It may be a sort of middle route between the two choices of shutting down and sleep. It prevents battery from draining and at the same time, the temporary data is unchanged.