Polymorphism in OOP (Object-Oriented Programming) is an important topic that helps us understand how binding works. Binding has two main types: static binding and dynamic binding.

1. Static Binding:

• This happens when the code is being prepared to run, which is called compile-time.
• Here, method calls are based on the type of reference.
• It is faster but less flexible. An example of this is method overloading, where you have the same method name but with different parameters (like different inputs).

2. Dynamic Binding:

• This takes place while the program is running, which we call runtime.
• Method calls are based on the actual type of the object being used.
• It allows for more flexibility. This is where polymorphism really shows its strengths, especially when it comes to method overriding in inheritance.

To sum it up, static binding is what you see when the code is being prepared, while dynamic binding is what you actually use when the program is running. Understanding this difference is really important for designing and building our software.