Difference between const and readonly in c#

Difference between const and readonly in c#
Following are the difference between const and readonly .
Const: 

1.const can only be initialized at the declaration of the field.
2.const is static by default.
3.Value is evaluated at compile time.

Readonly :

1.Readonly can be initialized either at the declaration or in a constructor.
2.Value is evaluated at run time.
3.Readonly fields can have different values depending on the constructor used.

Example of const and readonly keywords in c# :

class MyClass 
{
     public readonly int y = 20; // Initialize a readonly field
     public readonly int z;

     public const int c1 = 5; // Initialize a const

     public MyClass() 
     {
        z = 24;   // Initialize a readonly instance field in constructor.
     }
}

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