Native apps are smartphone applications specifically designed for a particular operating system, such as iOS or Android, and offer the fastest and most reliable user experience. They are built using an operating system's SDKs and can interact with device features, but come with higher development and maintenance costs due to their platform-specific nature. Web-based applications, on the other hand, are websites optimized for mobile browsers, offering a lower development cost but potentially slower performance and fewer features compared to native apps. Hybrid apps combine elements of both native and web apps, providing an easier and faster development process while still accessing device capabilities, although their speed may be limited by browser performance.