Answer Posted / arun

constants are dealt with at compile-time, while static
readonly fields are set at the time they are evaluated at
run-time.
the constant value will need to be recompiled if the
constant value changes. Libraries referencing a static
readonly field will reference the field and not the value,
thus they will pick up any change in the field without the
need for recompilation
constants will only support value types plus the
special .NET ones string and null while Static readonly
fields are able to hold reference types too.
So, constants should be used when it is very unlikely that
the value will ever change, or if no external apps/libs
will be using the constant. Static readonly fields should
be used when run-time calculation is required, or if
external consumers are a factor

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