Advantages of Sequence file over hdfs textfile

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What is the advantage of Hadoop Sequence File over HDFS flat file(Text)? In what way Sequence file is efficient?

Small files can be combined and written into a sequence file, but the same can be done for a HDFS text file also. Need to know the difference between the two ways. I have been googling about this for a while, would be helpful if i get clarity on this?

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