Panel vs Component

I’m new and want to know what the differences and possibilities of Panels and Components are.
Have Extensions as a Component more limits?

Cheers

An extension essentially has the same limits and capabilities regardless of which slot the extension is installed to.

Most of my extensions that support the Componenet slot also supports the panel slot, and uses the same code/css/etc.

This gives the streamer flexibility of choice on which slot to use.

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