Laravel: What's the advantage of using the asset method in blade pages?

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In some laravel examples I've seen assets being called like this:

<link rel="icon" type="image/png" href="{{ asset('icons/favicon-32x32.png') }}" sizes="32x32">

What is the advantage of using that method as opposed to doing this?

<link rel="icon" type="image/png" href="icons/favicon-32x32.png" sizes="32x32">
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