What is the difference between Smoke testing and Sanity testing

Smoke Testing:

A smoke test is a series of test cases that are run prior to commencing with full-scale testing of an application. The idea is to test the high-level features of the application to ensure that the essential features work. If they do not work, there is no need to continue testing details of the application, so the testing team will refuse to do any additional testing until all smoke test cases pass. This puts pressure on the development team to ensure that the testing team does not waste valuable testing time with code that is not ready to be tested.
Smoke testing can be done for testing the stability of any interim build.

Sanity Testing:

Once a new build is obtained with minor revisions, instead of doing a through regression, sanity is performed so as to ascertain the build has indeed rectified the issues and no further issue has been introduced by the fixes. Its generally a subset of regression testing and a group of test cases are executed that are related with the changes made to the app.
Generally, when multiple cycles of testing are executed, sanity testing may be done during the later cycles after through regression cycles.