NOTE: This question is from 2014. As of Java 11 OpenJDK and Oracle JDK are converging.
Are there any crucial differences between Ora
For Java 7, nothing crucial. The OpenJDK project is mostly based on HotSpot source code donated by Sun.
Moreover, OpenJDK was selected to be the reference implementation for Java 7 and is maintained by Oracle engineers.
There's a more detailed answer from 2012 on difference between JVM, JDK, JRE & OpenJDK, which links to an Oracle blog post:
Q: What is the difference between the source code found in the OpenJDK repository, and the code you use to build the Oracle JDK?
A: It is very close - our build process for Oracle JDK releases builds on OpenJDK 7 by adding just a couple of pieces, like the deployment code, which includes Oracle's implementation of the Java Plugin and Java WebStart, as well as some closed source third party components like a graphics rasterizer, some open source third party components, like Rhino, and a few bits and pieces here and there, like additional documentation or third party fonts. Moving forward, our intent is to open source all pieces of the Oracle JDK except those that we consider commercial features such as JRockit Mission Control (not yet available in Oracle JDK), and replace encumbered third party components with open source alternatives to achieve closer parity between the code bases.
From Java 11 turn to a big change
Oracle will change its historical “BCL” license with a combination of an open source and commercial license
Update : 25-Aug-2019
for more details oracle-vs-openjdk
A key difference going forward is the release schedule and support policy.
OpenJDK will have a feature release every 6 months which is only supported until the next feature release. It's essentially a continuous stream of releases targeted to developers.
The Oracle JDK is targeted more towards an enterprise audience which values stability. It's based on one of the OpenJDK releases but is then given long term support (LTS). The Oracle JDK has releases planned every 3 years.
Source: https://www.oracle.com/java/java9-screencasts.html?bcid=5582439790001&playerType=single-social&size=events
Also for Java 8 an interesting performance benchmark for reactive (non-blocking) Spring Boot REST application being hosted on various JVMs by AMIS Technology Blog has been published in Nov 2018 showing that, among other differences:
For details please see the source article.
Of course YMMV, this is just one of the benchmarks.
According to the oracle blog, Oracle JDK Releases for Java 11 and Later
Starting with Java 11, Oracle will provide JDK releases under the open source GNU General Public License v2, with the Classpath Exception (GPLv2+CPE), and under a commercial license for those using the Oracle JDK as part of an Oracle product or service, or who do not wish to use open source software. This combination of using an open source license and a commercial license replaces the historical “BCL” license, which had a combination of free and paid commercial terms.
Different builds will be provided for each license, but these builds are functionally identical aside from some cosmetic and packaging differences, described in detail below.
From the BCL to the GPL
The Binary Code License for Oracle Java SE technologies (“BCL”) has been the primary license for Oracle Java SE technologies for well over a decade. The BCL permits use without license fees under certain conditions. To simplify things going forward, Oracle started providing open source licensed OpenJDK builds as of Java 9, using the same license model as the Linux platform. If you are used to getting Oracle Java SE binaries for free, you can simply continue doing so with Oracle’s OpenJDK builds available at jdk.java.net. If you are used to getting Oracle Java SE binaries as part of a commercial product or service from Oracle, then you can continue to get Oracle JDK releases through My Oracle Support (MOS), and other locations.
Functionally identical and interchangeable...
Oracle’s BCL-licensed JDK historically contained “commercial features” that were not available in OpenJDK builds. As promised, however, over the past year Oracle has contributed these features to the OpenJDK Community, including:
From Java 11 forward, therefore, Oracle JDK builds and OpenJDK builds will be essentially identical.
...yet with some cosmetic and packaging differences
There do remain a small number of differences, some intentional and cosmetic, and some simply because more time to discuss with OpenJDK contributors is warranted.
This difference remains in order to provide a consistent experience for specific kinds of legacy use. These modules are either now available separately as part of OpenJFX, are now in both OpenJDK and the Oracle JDK because they were commercial features which Oracle contributed to OpenJDK (e.g., Flight Recorder), or were removed from Oracle JDK 11 (e.g., JNLP).
java 11 2018-09-25
Java(TM) SE Runtime Environment 18.9 (build 11+28)
Java HotSpot(TM) 64-Bit Server VM 18.9 (build 11+28, mixed mode)
And for an OpenJDK 11 build:
openjdk version "11" 2018-09-25
OpenJDK Runtime Environment 18.9 (build 11+28)
OpenJDK 64-Bit Server VM 18.9 (build 11+28, mixed mode)