JQuery is a library of java Script code that adds functionality to your webpage. You can develop the code yourself but why reinvent the wheel.
It helps developer because they don’t have to start from scratch or worry about if their code will be compatible with different browsers.
We have two versions of JQ because one is the full version/uncompressed with comments and white space that is easy to understand. And the mine version which has no comments or white spaces and is about eight times smaller in size.