deep explanation!
The {get; set;} is an automatic property, while the second is a field.
a field is a normal variable, from some type, that contains data.
a property is a couple of methods (well sometimes it's just one), one for get, and one for set. they only have a syntax like fields, but actually they are quite different.
properties are usually for filtering the set of the value, or virtualizing something in the get, etc.
automatic properties, also create a private field behind the scenes, return its value in the get, and set its value in the set.
seemingly this is just like a normal field, but behind the scenes (IL) using properties is totally different from using fields.
a.Property1 = 4;
is translate into something like:
a.Set_Propert1(4);
and this:
x = a.Property1;
is translate to something like this:
x = a.Get_Property1();
so why is it a good practice to use only public properties, even if they are automatic?
say you are writing a library, that is used by other application, and someday you want to release a new version of that library that constrains one of your class' fields..
if you are using properties, you can just change the property (even if it is an automatic one, you can replace it by a full one), and then any application which used your library can still use it in the same way.
but if you made a public field, which you now want to constrain, you'll need to make a property for this and make the field private, but if you will, any application that used you library will no more be bale to, because the way it use fields and property is different.