Declaring the type of collection in Java

Question

What would be the difference between these two lines effectively?

ArrayList <MyClass> arrayList = new ArrayList<>();

and

ArrayList <MyClass> arrayList = new ArrayList<MyClass>();

Answer 1

ArrayList <MyClass> arrayList = new ArrayList<>();

This one is valid in Java7.

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ArrayList <MyClass> arrayList = new ArrayList<MyClass>();

This one is valid in Java7, Java6 and Java5.