Simply put, “volatile” memory needs power to retain its data. Non-volatile does not, and will hold the data while powered off. If power is lost, “volatile” memory is erased, typically to all `0` bits. It MIGHT last for a few seconds after power goes out, but don’t count on it.
The traditional examples are RAM for volatile, and a hard drive for non-volatile. Some specific devices blur the line intentionally, like a fast “hard drive” made of RAM but with a battery so it can last a short while without power. Or Intel’s “Optane” which is non-volatile, but actually can be bought in RAM stick shapes and plug into those connections on a server’s motherboard.
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