What is the difference between lto7 and lto8?

Could you elaborate on the key differences between LTO7 and LTO8? I've heard these terms mentioned in the cryptocurrency and blockchain community, but I'm not entirely clear on their distinctions. Is it related to the type of transaction, the level of security, or something else entirely? I'm particularly interested in understanding how these two variants might affect users, developers, and the overall ecosystem. Could you provide a concise yet comprehensive overview of the key differences between LTO7 and LTO8?