Chroma Key is known to be one of the earliest technologies that were released to the public. This is sometimes called the Green Screen. There are no actual differences between the two. The principle is the same and they are often used for the same things. There can be any other color that can be used for the Chroma Key though not just the color green but this is still the most rampant color that is being used right now.
Any shade of green will work as long as it will not reflect the light too much. If a person would wear a color similar to the shade of the background, the clothes may also fade along with the background.