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Taken from Wikipedia
Chromium is the open source web browser project from which Google Chrome draws its source code. Chromium is the same as Google Chrome, but with a different-colored logo and without Google tracking features installed.
Chromium is the name given to the open source project and the browser source code released and maintained by the Chromium Project. It is possible to install the latest precompiled snapshots for Windows, Linux and Mac, or by downloading the source code and building it manually on those platforms. Google takes this source code and adds on the Google name and logo, an auto-updater system called GoogleUpdate, an opt-in option for users to send Google their usage statistics and crash reports as well as, in some instances, RLZ-tracking which transmits information in encoded form to Google, for example, when and where Chrome has been downloaded.
In June 2010 Google confirmed that the RLZ tracking token is only present in versions of Chrome that are downloaded as part of marketing promotions and distribution partnerships and not in versions of Chrome downloaded from the Google website directly or in any versions of Chromium. The RLZ source code was also made open source at the same time so that developers can confirm what it is and how it works.