SRAM is a type of memory that retains data as long as power is supplied, unlike DRAM which must be refreshed. SRAM is faster but more expensive than DRAM. SRAM is used in devices such as cameras, routers, printers and can be found in many consumer electronics, medical devices, and IoT applications. SRAM has three states - standby, reading, and writing - and comes in different types including asynchronous, burst, and DDR varieties. DRAM uses capacitors to store data but must be periodically refreshed, making it cheaper but slower than SRAM. SDRAM synchronizes with the computer's clock to provide faster access than regular DRAM.