Value Nodes are used for display purpose. For example if you have an internal table and want to display that data on UI, you can do it using a Value Node. A Value does not need any BOL reference, just a Data Dictionary Structure. It can be created in run time.
Modal Nodes have an underlying GENIL reference, database tables and have many features like relations etc., A BOL entity is a must for a Modal Node Creation. They can be bound to custom controllers or component controllers for data exchange. They are arranged in a hierarchy which can be viewed using TCODE GENIL_MODEL_BROWSER.
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