well, GDDR is an acronym for Graphics Double Data Rate memory. also known as RAM, or Random Access Memory.
gddr1 is any speed from 1-400mhz usually. ddr2 is usually limited to 400-1200mhz. ddr3 is anywhere from 1066-2000mhz i believe.
basically they are just numbers that show you what general speed the ram is operating at. more technically, the ddr number refers to the architecture used in the chip. so no ddr1 ram will fit in with any ddr2 ram slots.
if you are wondering because you are looking into buying and want to know if nvidia video cards are slower because they use ddr3 and AMD/ATI uses ddr5, then the fact is, so many other things affect the actual processing power of the video card that as long as the card uses ddr3 or higher, then you dont need to worry about the memory. the best thing to worry about is the core processor.