Lifepo or lipo reciever pack

[Lee24h]

Im after a new reciever pack for my eigth after using nimh i now want to use a modern battery now but which i go for with lipo i know i need a regulator ie the lrp one as it will be a lrp battery i buy but what are the advantages of lipo and lifepo and also the disadvantages
Plus it will be warm when i race im a bit of a fair weather eighth racer as its not my main class
Cheers
Lee