Difference Between Development & Production Mode in Magento 2?

Development & Magento Modes are two different modes in Magento 2.
Magento 2 has basically the following type of Modes.

Default Mode
Developer/Development Mode
Production Mode

Development Mode

The slowest mode on both Front-End and Admin Side. In this mode all development should be done. Actually this is the mode for developers. This is the most ideal mode for development because in this mode all errors are displayed directly on the Web Page, which makes it easy to fix errors.

Production Mode

This mode is the Live Magento 2 Site. To provide the best service to your loyal customers you must need to be in Production Mode. Due to full page caching this is the fastest and secure mode in Magento 2. Debugging is quite difficult in Production Mode as compared to Developer Mode.

Switch Modes in Magento 2

Connect your Magento Root Directory.
Run the following command .
bin/magento deploy:mode:set {mode}
Her {mode} represents the mode you want to change.