The readonly keyword is different from the const keyword. A const field can only be initialized at the declaration of the field. A readonly field can be initialized either at the declaration or in a constructor. Therefore, readonly fields can have different values depending on the constructor used.
In a nut shell we can say that, while a const field is a compile-time constant, the readonly field can be used for runtime constants as in the following example:
public static readonly uint l1 = (uint) DateTime.Now.Ticks;
Refrences: MSDN July 2004
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