A constant is a global value that cannot be changed. The following snippet defines a global constant named price typed tez equal to 10 tez:
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constant price : tez =10tz
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The following defines a string typed constant named msg :
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constant msg : string ="Hello world"
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Note that constant values are not transcoded to contract storage: they may be seen as convenient aliases when writing contract's code.
Variable
A variable is a global value that can be changed. The following snippet defines 2 global variables named seller and buyer typed address equal to a (here random) addresses: