The Open Source world never stops and this is another demonstration of it, since although for many it is not necessary another Terminal application for Mac OS X, I believe that the alternatives are always good.
Everything has a reason
iTerm was not born out of love of art, but out of the need to improve the original Mac OS X Terminal application, and it does so in several ways.
It allows you to put the terminal in full screen to work on the command line without distractions of any kind, use transparencies in the window, it provides Bonjour and AppleScript support, as well as tabs for multiple terminals and bookmarks management.
The i of iTerm
Apple said in its day that the i of the original iMac was on the Internet, and in this case the developers of iTerm have wanted to specify that with the 'i' they refer to the internationality of the application (they seek to have the largest possible languages), thus as well as the totally maquero look and feel that they have achieved.
The problem and the solution
The problem with this is that the development of iTerm has slowed down considerably lately, so a fork called iTerm2 has arisen that will be updated and that, personally, is the one that I recommend continuing today.
Link | iTerm
Link | iTerm2
Thanks for the guy, I was really hating the default terminal and this has been a good find.