Hi @CeesQ,
That’s right. And because of these different characteristics that you have mentioned (and others):
What is jQuery?
It’s a Javascript library make it easier and quicker to build javascript webpages and web apps.
How does it help us as developers?
Adding animated effects to elements.
Making XML (Ajax) requests.
Manipulating the DOM
Creating image slideshows.
Making drop-down menus.
Creating drag-and-drop interfaces.
Adding power to forms.
Why do we have 2 version of jQuery - minified and uncompressed?
minified version – is used for Production;
uncompressed — is used for debugging and development;
It is a library that is used to build JavaScript pages and apps.
You can add animated effects and forms to the page. You can make XML requests for additional data as well as manipulate the DOM. You can create image slideshows, drop down menus, and drag-and-drop interfaces.
The smaller minified version, is without the comments and spaces, so that the viewer can download the view the web page a lot quicker. The uncompressed version is easier for the programmer to follow and therefore helps along the coding process in the beginning.
1. What is jQuery?
JQuery is a free JavaScript Library.
2. How does it help us as developers?
It helps writing efficient code with fewer lines including animations, image effects, user interface elements, DOM manipulations, etc.
3. Why do we have 2 version of jQuery - minified and uncompressed?
One uncompressed .js file is easy to read and modify but larger. The other .js file is „minified“ and therefore smaller but quicker and more efficient in regards of downloadtime when implemented.
What is jQuery?
It’s javascript library open to all to use
How does it help us as developers?
It provides expansion of the site features and usability without having to write all pieces of the code
Why do we have 2 version of jQuery - minified and uncompressed?
One is a full version allowing for changes and customization but is much bigger file, the other one is smaller without customization
Is a library written in JavaScript form that makes it easier and quicker for developers to build JavaScript webpages and webapps.
It saves time, memory and reduce human error. A code which would have taken 20 lines to write can be written in one line which borrows from a .js file from jQuery library.
To enable developers to make choices depending on their needs of either memory or wanting to get more explanation(comments) on .js files from jQuery. Uncompressed is bigger in size than minified and have more details than minified.
jQuery is yet another advancement of/in coding javascript that allows us to (as imho, all advancements should) do more with less code & that more makes your website not only faster but sexy. (Well the potential for sexiness increases as you have easier access to more elements, again with less code. But I digress...
Some of the examples of that more are elements like slide shows, Drop down menus,ajax requests (speed, like content, is king) and animated affects like fades and other movements.
(Though I'd call the ability to drag and drop elements on a page to build/order it my favorite feature)
As previously mentioned it speeds things up and makes it easier to compile a beautiful and reliable page/app.
However what wasn't mentioned was exactly how.
Essentially jQuery is a library of pre-written code (did I mention its free?) That one can call on to execute the aforementioned tasks.
This is often done with just a single line.
Elegant and effective
There are two versions to address the two major needs of the public
Excellent answers sir, well documented! Please keep them like that 
Carlos Z.
What is jQuery?
jQuery is the largest most popular Javascript library currently. It is a source for already existing code that performs a desired function. A web developer is able to utilize this code by using a single .js file that the website using it links to.
How does it help us as developers?
This helps developers access a lot of already made effects with out having to build them line by line. Lots of cool things that can be added to a website under development. Save time and money.
Why do we have 2 version of jQuery - minified and uncompressed?
The two versions available serve a purpose.The uncompressed .js file is helpful for development because it is easier to read and work with. the notes are available. This however creates a larger more cumbersome file.
The minified .js file is stripped down and more practical for for client use. For endusers the smaller file size means faster more efficient download speeds, a better user experience.
What is jQuery?
jQuery is a library that makes it quicker and easier to build JavaScript webpages and web apps.
How does it help us as developers?
With jQuery you can write powerful JavaScript apps using fewer lines of code.
jQuery lets you easily write cross-browser JavaScript code.
Why do we have 2 version of jQuery - minified and uncompressed?
The uncompressed .js file is easy to read and modify, but it’s around 160kb in size.
The minified .js file has all comments, whitespace, and other unnecessary characters removed from the file, squeezing the whole library into a mere 23kb.
jQuery is a free javascript library that allows you to create MORE while typing LESS code.
It helps us most by saving us time. We are able to create powerful javascript with writing very little code. On top of that, jQuery is compatible with most browsers.
The uncompressed version of jQuery is very easy to read and simple to follow, but the minified version is more difficult to read and omits any commentary that might be helpful to those writing code. The benefit to the minified version is the file size of approximately 23kb while the uncompressed version is 160+kb. The minified version is preferred to use on websites as it will take less time for the users to load it.
1. What is jQuery?
jQuery is basically a framework or library.
2. How does it help us as developers?
Help us in order to simplifies a javascript.
3. Why do we have 2 version of jQuery - minified and uncompressed?
Uncompressed version of code is full of comments for better understanding, minified version is simplified without comments etc. - just clean code
It is a Javascript Library, free to download and use.
jQuery allows developers to easily and quickly write complex Javascript apps with minimal lines of code. jQuery also allows us to customize webpage elements such as adding animations, making AJAX requests, managing the Document object model(DOM) and creating other user interface features.
The minified version has a smaller size of about 23kb while the uncompressed version has a larger size of about 160kb. The minified version has fewer developer details and is mainly used as the final product on webpages so users can load the webpages faster.
What is jQuery?
A library that contains minimalistic codes accessible for programmers.
How does it help us as developers?
By using the same minimalistic codes it makes it easy to understand for other programmers when they want to ad code on a project.
Why do we have 2 version of jQuery - minified and uncompressed?
Jquery is a Javascript library designed to perform many common tasks whilst keeping the code to a minimum. It consists of a series of Javascript functions that can be called from the main program.
Jquery is able to deal with code compatibility issues between different browsers. So the programmer only needs to write one program that can run across many popular web browsers.
Jquary comes in two forms: minified and uncompressed The minified version has all the unnecessary characters, such as spaces, removed. Thus, it loads and runs more quickly compared to the uncompressed version.
What is jQuery?
jQuery is a library that makes it quicker and easier to build JavaScript webpages and web apps.
How does it help us as developers?
Often with jQuery you can write a single line of code to achieve what would have taken 10-20 lines of regular JavaScript code.
Why do we have 2 version of jQuery - minified and uncompressed?
The uncompressed .js file allows devs to reference documentation
The minified .js file has all comments, whitespace, and other unnecessary characters removed from the file, squeezing the whole library into a mere 23kb. Although you can’t easily read the code, this is the version you’ll want to place on your site, as it’s much quicker for visitors to download.