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Classic editor is what most users traditionally learnt to associate with a rich text editor — a toolbar with an editing area placed in a specific position on the page, usually as a part of a form that you use to submit some content to the server.
Inline editor comes with a floating toolbar that becomes visible when the editor is focused (e.g. by clicking it). Unlike classic editor, inline editor does not render instead of the given element, it simply makes it editable.
Balloon editor is very similar to inline editor. The difference between them is that the toolbar appears in a balloon next to the selection (when the selection is not empty).
Balloon block is essentially the balloon editor with an extra block toolbar which can be accessed using the button attached to the editable content area and following the selection in the document. The toolbar gives access to additional, block–level editing features.
The document editor is focused on rich text editing experience similar to word processors. It works best for creating documents which are usually later printed or exported to PDF files.