Difference between the SoapFormatter and the XmlSerializer

What is the difference between the SoapFormatter and the XmlSerializer?

SoapFormatter

- SOAP formatter will actually take the field values of an object and store all of that information in the stream passed.
- SoapFormatter is better to serialize arbitrary data.

XmlSerializer

- XML Serialization would just serialize the public properties of an object.
- The XML Serializer is used typically for serializing simple types across web services.
- Xmlserializer is better, more flexible and faster.
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