The .NET Framework is a set of technologies that form an integral part of the .NET Platform. It is Microsoftâ??s managed code programming model for building applications.
The .NET Framework has two main components:
Common Language Runtime (CLR):
The CLR is one of the foundation in the .NET framework and provides a common set of services for applications developed on Microsoft .Net Technologies.

.NET Framework class library:
The .NET framework class library is a collection of reusable types and exposes features of the runtime. It contains of a set of classes that is used to access common functionality.

What is CTS (Common Type System)?
The common type system (CTS) defines how types are declared, used, and managed in the runtime, and is also an important part of the runtimeâ??s support for cross-language integration. The common type system performs the following functions:

Establishes a framework that helps to enable cross-language integration, type safety, and high performance code execution.
Provides an object-oriented model that supports the complete implementation of many programming languages.
Define the rules that languages must follow, which helps to ensure that objects written in different languages can interact with each other.

What is CLS (Common Language Specification)?

This is a subset of the CTS which all .NET languages are expected to support. It was always a dream of Microsoft to unite all different languages in to one umbrella and CLS is one step towards that. Microsoft has defined CLS which are nothing but guidelines that language to follow, so that it can communicate with other .NET languages in a seamless manner.

What is .Net Assembly?
.Net Assembly is one basic building of application. It can be an .exe or .dll file.
.Net Assembly can be used to

Simplify application deployment
Solves the versioning problems that can occur with component-based applications

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