It's much, much less concentrated with regards to sodium nitrite. From Wikipedia:
"Morton's Tenderquick is the brand name of another formulation of sodium nitrite, with salt and sugars added. It is not the same concentration as either "Prague powder #1 or #2". Since certainty about the amount of nitrite present in a recipe is essential for safety, one cannot take a recipe designed for Prague powder and simply substitute like amounts of such products as Morton's Tenderquick. To do so would invite the risk of botulism poisoning. Similarly, one cannot just substitute Prague powder #1 in place of Morton's Tenderquick. For any such substitutions, one must calculate the exact amount of nitrite required and make the proper adjustments."
The website has more info. I view it as more of a seasoning, to give the flavor and color of curing to fresh meat. It's very finely powdered, so it soaks in quickly. You can "cure" a pork chop in just a few hours. It took me some experimentation to learn how to use it without oversalting the meat. It's not meant to be relied upon to prevent botulism.