Abstract Class vs Interface

What is an Abstract Class?
An abstract class is a special kind of class that cannot be instantiated. So the question is why we need a class that cannot be instantiated? An abstract class is only to be sub-classed (inherited from). In other words, it only allows other classes to inherit from it but cannot be instantiated. The advantage is that it enforces certain hierarchies for all the subclasses. In simple words, it is a kind of contract that forces all the subclasses to carry on the same hierarchies or standards.

What is an Interface?
An interface has no implementation; it only has the signature or in other words, just the definition of the methods without the body. As one of the similarities to Abstract class, it is a contract that is used to define hierarchies for all subclasses or it defines specific set of methods and their arguments. The main difference between them is that a class can implement more than one interface but can only inherit from one abstract class. Interfaces are used to implement multiple inheritance.

Feature	Interface	Abstract class
Multiple inheritance	A class may inherit several interfaces.	A class may inherit only one abstract class.
Default implementation	An interface cannot provide any code, just the signature.	An abstract class can provide complete, default code and/or just the details that have to be overridden.
Access Modfiers	An interface cannot have access modifiers for the subs, functions, properties etc everything is assumed as public	An abstract class can contain access modifiers for the subs, functions, properties
Core VS Peripheral	Interfaces are used to define the peripheral abilities of a class. In other words both Human and Vehicle can inherit from a IMovable interface.	An abstract class defines the core identity of a class and there it is used for objects of the same type.
Homogeneity	If various implementations only share method signatures then it is better to use Interfaces.	If various implementations are of the same kind and use common behaviour or status then abstract class is better to use.
Speed	Requires more time to find the actual method in the corresponding classes.	Fast
Adding functionality (Versioning)	If we add a new method to an Interface then we have to track down all the implementations of the interface and define implementation for the new method.	If we add a new method to an abstract class then we have the option of providing default implementation and therefore all the existing code might work properly.
Fields and Constants	No fields can be defined in interfaces	An abstract class can have fields and constrants defined

Reference: Abstract Class versus Interface