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TrueType is a scalable font technology designed by Apple Computer, and has been superseded by the OpenType format. However people still refer to TrueType fonts, while in fact 99.9% of all fonts that come with Windows are OpenType fonts.
A TrueType font file contains data, in table format, that comprises an outline font. Rasterizers use combinations of data from the tables contained in the font to render the glyph outlines.