OpenType allows multiple related faces in a single file (for example, multiple weights, italic, small caps, etc.). TrueType has one face per file.
OpenType supports a compact format for describing glyphs that makes the font definition smaller that TrueType.
OpenType also allows alternate forms for individual glyphs and ligatures (where letter combinations form an alternative presentation). TrueType has a much simpler way to support ligatures and no real support for alternate glyphs.
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