simply a different distro of Linux built around a certain kernal build version. you can check http://distrowatch.com/ for more info on fedora core, or many other distros.
fedora is named fedora i believe because the author wrote an article or a book and in this text he asked the question (loosely pulled from my memory bank) 'has anyone found my red fedora hat? if so let me know'. so from then on, from what i was told that distrobution what called fedora from then on.
i may be wrong, feel free to correct me on this. :)
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