They both have the same purpose and use. AY is correct that you can not change from tbelt to chain and viceversa without replacing the engine.
Chain is long lasting. No need to replace unless it starts to become noisy. If your lucky it will last the life of the engine. Drawback is its noisier than belts.
Timing belts are replaced at around 80,000 kms. Change your water pump at the same time. Some people change earlier as preventive maintenance. Cause if it breaks your engine and wallet are in for a world of hurt. Its quieter than chain.






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