The major difference between the second and the third generation of Apple TV is the jailbreaking feature

FEATURES OF THIRD GENERATION APPLE TV

• Some of the amazing features of third-generation Apple TV are Single core A5 chip, Wi-Fi connectivity of 802.11a, b, g, HDMI, Optical Audio, Built-in IR receiver, Micro USB, Excellent blue tooth support and a few more
• The device is about 0.9 Inches (H), 3.9 inches(W), 3.9 inches (D) and weighs around 0.6 pounds
• The Airplay feature to Interact with the iPad, iPhone, and iPad touch, allows display mirroring, and excellent gaming console options
• The little black box looks stylish with a matte finish and attractive shiny black edges
• The device is also compatible with 1080p and 720p output resolutions, has an infrared receiver, and an inbuilt 6-watt power supply