Difference between 'range' and 'xrange' in Python

In Python 2.x, the 'range' function generates a list of numbers, while 'xrange' creates an xrange object representing a range of values without creating the list in memory.

The main difference is the memory usage; 'range' consumes more memory as it creates a list, while 'xrange' is memory-efficient as it generates values on-the-fly.

However, in Python 3.x, the 'xrange' function was deprecated and replaced by the improved 'range' function. This decision was made to simplify the language and remove the redundancy of having two similar functions.

Overall, it is recommended to use the 'range' function in Python 3.x for better performance and code readability.