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The real closed valuation rings, i.e., convex subrings of real closed fields, form a proper subclass of the class of real closed domains. It is shown how one can recognize whether a real closed domain is a valuation ring. This leads to a characterization of the totally ordered domains whose real closure is a valuation ring. Real closures of totally ordered factor rings of coordinate rings of real algebraic varieties are very frequently valuation rings. In particular, the real closure of the coordinate ring of a curve is an SV-ring (i.e., the factor rings modulo prime ideals are valuation rings). Real closed valuation rings play a role in the definition of real closed rings, as well as in the construction of real closures of rings and porings. They can also be used for the study of univariate differentiable semi-algebraic functions. This leads to the notion of differentiablility of semi-algebraic functions along half branches of curves. [ABSTRACT FROM AUTHOR]