Cache Folder and Files?

[SEE]

I read that some were advising to delete everything in the cache folder (that resides in the 1Csoftpublishing installation) after installing the lastest Beta patch to prevent potential problems.

Not too familiar with Steam but what is the function of the cache folder (a lot of files in there) and why does it help to delete everything in it? I moved mine and replaced it with an empty folder named cache rather than delete it - (just in case....).

What happens if you verify the cache? Does steam roll your installation back to pre -beta official patch?

Any explanations of cache folder - how it works, what it does, possible conflicts with beta installs would be greatly appreciated.