Answer Posted / subrahmanyam

transient
identifies a variable not to be written out when an
instance is serialized (It can'nt be copied to remove
system)

volatile
indicates that the field is used by synchronized threads
and that the compiler should not attempt to perform
optimizations with it.

When more than one thread share a (volatile) data it is
checked every time. Every thread keeps the latest value of
volatile variable

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