This box has just one layer of paper in most places, so it uses paper effectively, allowing you to make a large box with given sheet size.
Compared to Plain Box, it uses less paper for the same size, but the walls are not as strong.
In contrast to Common Box, it is completely smooth outside, and this box is also much stronger than Common Box. The downside is that the lock of the corners is placed inside rather than outside which takes away some space and may make placing objects inside the box difficult. However, I designed this box with the purpose of using it as a lower part of two-part box sets — to be matched to decorated box lids, and this role it fulfills quite well.
This box can be folded from a square or from a rectangle, and it is possible to vary proportions between height and the other two dimensions arbitrarily.
It’s a simple design, so I wouldn’t be surprised if someone had come up with it before.