Managed and unmanaged code in .NET

Question

What is difference between managed code and unmanaged code in terms of the .NET framework?

Answer 1

Managed code is a differentiation created by Microsoft to identify code that requires and will only execute under the "management" of a CLR virtual machine, resulting in Bytecode.

Benefits of using managed code include programmer convenience (by increasing the level of abstraction, creating smaller models) and enhanced security guarantees, depending on the platform (including the VM implementation).

From: Wikipedia: Managed Code