The method we used to use would result in freefall if you lost your grip, the SAS complained about our old fashioned method and one of them lost his career that day rappelling from helicopters with us, from injuries resulting from his mistake.
Frankly, I don't even know how the modern version work, but I have the impression that more equipment than a rope and a carabiner and gloves, are used.
Yeah, My way belay is a Super 8 or an ATC guide. I guess if I were going down fast I’d want an ATC so I drag that rope into the teeth....maybe. LOL
WTF do I know?