Difference between XML Serialization and Binary Serialization

XML Serialization	Binary Serialization (Soap)
No need of Serializable attribute on the class	Need Serializable attribute
Only public members are serialized	All members are serializes unless specified as NonSerializable
Class should have default public constructor and class itself should have public access.	No need of default constructor or public access
Namespace: System.XML,Serialization	Namespace: System.Runtime.Serialization.Formatteres.Binary (.Soap)
Outputfile is XML	Outputfile is Binary or XML for SOAP formatter
XMLSerializer need type of object to be serialized or deserialized	No need to specify type of object to be serialized or deserialized.
Support only IDesrializationCallback interface. No support for binary events.	Binaryformatter support binary events. Soap formatter supports only IDeserializationCallback interface