Manged Code - code which is executed under Common Language Runtime (CLR). Due to this, the code has many benefits like memory management, support of version control, type safety and security. The code which targets CLR and written in .NET framework is a managed code. E.g: C#,VB.NET
Unmanaged code : code which is not executed under .NET runtime (CLR). CLR is does not have control over execution of code.memory management, security and type safety should be taken care by developer. E.g: VB6, C,C++.
managed code typically compiled to Intermediate Language(IL) code where as unmanged code directly compiles to native code.
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