There are 2 kind of rifts :
Nephalem rift - You can change your gear etc and get drops while killing mobs.
Greater Rift- Mobs wont drop anything till Rift Guardian if you kill it you will get 1 Gem till you have them all and few legendarys and bloodshards.
Number mean difficulty
GR 1- is like Hard difficulty
GR 4- Expert
GR 7- Master
GR 10- Torment 1
And so on
GR 48 was higher than Torment 10
People do Greater rift because they can gain more xp in greater than T(torment)10