Mini DisplayPort is a compact version of the DisplayPort connector introduced by Apple in 2008. Mini DisplayPort is free to license, and in 2009 it was included in the official DisplayPort 1.2 spec. In 2011 Apple and Intel announced the Thunderbolt format, which used the same physical connector, but significantly different protocols.
Screen refresh rate is the number of times an image on any type of monitor or television is reconstructed per second. This is measured in hertz.. (Hz).
Refresh rate and FPS. Let's say it's a high-end game which requires good hardware. Some players would want to try and see how many FPS they can get, using the game as a benchmark. Other than that, 120 Hz (or even 200 Hz) monitors are getting popular, so it could make sense.