The Fedora Project has corporate sponsorship from Redhat Inc. but
officially and properly speaking the Fedora distribution itself (by the
way, it's not Fedora Core anymore) is not a product of Redhat Inc.
The biggest differences are:
1) Community support (Fedora) versus paid support (Redhat)
2) Release cycle: Fedora releases every 6 months and a given version is (supposedly) only supported for about 13 months, Redhat is supported for years
3) Software stability: Fedora is a sort of testbed for bleeding-edge software (but can be made to work in production environments if you're dedicated); Redhat is specifically geared to production environments and contains tried-and-true software and feature implementations
4) Money
The biggest differences are:
1) Community support (Fedora) versus paid support (Redhat)
2) Release cycle: Fedora releases every 6 months and a given version is (supposedly) only supported for about 13 months, Redhat is supported for years
3) Software stability: Fedora is a sort of testbed for bleeding-edge software (but can be made to work in production environments if you're dedicated); Redhat is specifically geared to production environments and contains tried-and-true software and feature implementations
4) Money
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