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Difference between a view and a materialized view

I have created a function which is returning a result set. And with the same query used in the function, I have a created a view and a materialized view. Now I am not able to understand performance, which is good, and the difference between a view and a materialized view. Please help in this matter. I am new to this.
A view is just a stored query and has no physical part. Once a view is instantiated, performance can be quite good, until it is aged out of the cache. A materialized view has a physical table associated with it; it doesn't have to resolve the query each time it is queried. Depending on how large a result set and how complex the query, a materialized view should perform better.

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