The DNG converter takes the raw image data and puts it into a standardized DNG file format. You still have all the raw editing capabilities. It's just a different file container. The DNG converter does not really "convert" the original raw file because that file still remains. The converter creates a new DNG file that you can use until you decide you want to upgrade your version of Lightroom. For more information, you might want to watch the two videos that are available on this webpage:
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