Textarea field .txt storage specifics

I am currently doing an integration with a third party service to do translations. I was wondering about the storage of a textarea field in it’s corresponding .txt file.

What is the difference between the following versions of mark up that I see with textareas > vs. |:

key: >
Ad velit do est ullamco consequat culpa.

and

key: |
Ad velit do est ullamco consequat culpa.

What is the difference between the two? I can’t work out the pattern when one option is used over the other? Both seem to be able to cope with single or multiline strings and whether or not the text is wrapped in the .txt file?

That is yaml.

The difference between > and | is how strictly the value that follows is treated.
Stuff after the pipe character (|) is what we call a literal scalar: except for the indentations the value is taken “as is”, line breaks included.
Stuff after the “greater than” character (>) is what we call a folded scalar: essentially newlines are simply treated as “whitespace” (therefore collapsed into a single, simple, space character).

Here’s a toy to play with: https://yaml-multiline.info/