They are two different things, although they both create a function (and assign it to a variable).

function name () {
}

Is a function-statement (or "function declaration"). It is only legal to appear as a top-level script element or directly as an element of a function: that is, it is not legal for a function-statement to appear inside an if, or while, etc. All function statements are "lifted" to the top of the function (or script), thus the following is valid:

a()
function a () { alert("a") }

In the form:

variable = function name () {} // or variable = function () {}

The function keyword is in a function-expression context: it creates a new function-object and the resulting function-object (just a "normal value") is assigned to variable. The following is not valid because function-expressions are not lifted.

var b
b() // oops, does not evaluate to a function-object yet!
b = function b () { alert("b") }

All that being said, the "correct way" is to use the function-statement ("function declaration") form unless there is reason to do otherwise.

Happy coding.

See also:

• What is the difference between a function expression vs declaration in JavaScript?
• Function Declarations vs. Function Expressions

Current JavaScript

From ES6 on you could use template strings:

let soMany = 10;
console.log(`This is ${soMany} times easier!`);
// "This is 10 times easier!"

See Kim's answer below for details.

Older answer

Try sprintf() for JavaScript.

If you really want to do a simple format method on your own, don’t do the replacements successively but do them simultaneously.

Because most of the other proposals that are mentioned fail when a replace string of previous replacement does also contain a format sequence like this:

"{0}{1}".format("{1}", "{0}")

Normally you would expect the output to be {1}{0} but the actual output is {1}{1}. So do a simultaneous replacement instead like in fearphage’s suggestion.

Adapt the code from MsAjax string.

Just remove all of the _validateParams code and you are most of the way to a full fledged .NET string class in JavaScript.

Okay, I liberated the msajax string class, removing all the msajax dependencies. It Works great, just like the .NET string class, including trim functions, endsWith/startsWith, etc.

P.S. - I left all of the Visual Studio JavaScript IntelliSense helpers and XmlDocs in place. They are innocuous if you don't use Visual Studio, but you can remove them if you like.

<script src="script/string.js" type="text/javascript"></script>
<script type="text/javascript">
    var a = String.format("Hello {0}!", "world");
    alert(a);

</script>

String.js

// String.js - liberated from MicrosoftAjax.js on 03/28/10 by Sky Sanders
// permalink: http://stackoverflow.com/a/2534834/2343

/*
    Copyright (c) 2009, CodePlex Foundation
    All rights reserved.

    Redistribution and use in source and binary forms, with or without modification, are permitted
    provided that the following conditions are met:

    *   Redistributions of source code must retain the above copyright notice, this list of conditions
        and the following disclaimer.

    *   Redistributions in binary form must reproduce the above copyright notice, this list of conditions
        and the following disclaimer in the documentation and/or other materials provided with the distribution.

    *   Neither the name of CodePlex Foundation nor the names of its contributors may be used to endorse or
        promote products derived from this software without specific prior written permission.

    THIS SOFTWARE IS PROVIDED BY THE COPYRIGHT HOLDERS AND CONTRIBUTORS AS IS AND ANY EXPRESS OR IMPLIED
    WARRANTIES, INCLUDING, BUT NOT LIMITED TO, THE IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR
    A PARTICULAR PURPOSE ARE DISCLAIMED. IN NO EVENT SHALL THE COPYRIGHT OWNER OR CONTRIBUTORS BE LIABLE
    FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL, EXEMPLARY, OR CONSEQUENTIAL DAMAGES (INCLUDING, BUT NOT
    LIMITED TO, PROCUREMENT OF SUBSTITUTE GOODS OR SERVICES; LOSS OF USE, DATA, OR PROFITS; OR BUSINESS
    INTERRUPTION) HOWEVER CAUSED AND ON ANY THEORY OF LIABILITY, WHETHER IN CONTRACT, STRICT LIABILITY,
    OR TORT (INCLUDING NEGLIGENCE OR OTHERWISE) ARISING IN ANY WAY OUT OF THE USE OF THIS SOFTWARE, EVEN
    IF ADVISED OF THE POSSIBILITY OF SUCH DAMAGE.</textarea>
*/

(function(window) {

    $type = String;
    $type.__typeName = 'String';
    $type.__class = true;

    $prototype = $type.prototype;
    $prototype.endsWith = function String$endsWith(suffix) {
        /// <summary>Determines whether the end of this instance matches the specified string.</summary>
        /// <param name="suffix" type="String">A string to compare to.</param>
        /// <returns type="Boolean">true if suffix matches the end of this instance; otherwise, false.</returns>
        return (this.substr(this.length - suffix.length) === suffix);
    }

    $prototype.startsWith = function String$startsWith(prefix) {
        /// <summary >Determines whether the beginning of this instance matches the specified string.</summary>
        /// <param name="prefix" type="String">The String to compare.</param>
        /// <returns type="Boolean">true if prefix matches the beginning of this string; otherwise, false.</returns>
        return (this.substr(0, prefix.length) === prefix);
    }

    $prototype.trim = function String$trim() {
        /// <summary >Removes all leading and trailing white-space characters from the current String object.</summary>
        /// <returns type="String">The string that remains after all white-space characters are removed from the start and end of the current String object.</returns>
        return this.replace(/^\s+|\s+$/g, '');
    }

    $prototype.trimEnd = function String$trimEnd() {
        /// <summary >Removes all trailing white spaces from the current String object.</summary>
        /// <returns type="String">The string that remains after all white-space characters are removed from the end of the current String object.</returns>
        return this.replace(/\s+$/, '');
    }

    $prototype.trimStart = function String$trimStart() {
        /// <summary >Removes all leading white spaces from the current String object.</summary>
        /// <returns type="String">The string that remains after all white-space characters are removed from the start of the current String object.</returns>
        return this.replace(/^\s+/, '');
    }

    $type.format = function String$format(format, args) {
        /// <summary>Replaces the format items in a specified String with the text equivalents of the values of   corresponding object instances. The invariant culture will be used to format dates and numbers.</summary>
        /// <param name="format" type="String">A format string.</param>
        /// <param name="args" parameterArray="true" mayBeNull="true">The objects to format.</param>
        /// <returns type="String">A copy of format in which the format items have been replaced by the   string equivalent of the corresponding instances of object arguments.</returns>
        return String._toFormattedString(false, arguments);
    }

    $type._toFormattedString = function String$_toFormattedString(useLocale, args) {
        var result = '';
        var format = args[0];

        for (var i = 0; ; ) {
            // Find the next opening or closing brace
            var open = format.indexOf('{', i);
            var close = format.indexOf('}', i);
            if ((open < 0) && (close < 0)) {
                // Not found: copy the end of the string and break
                result += format.slice(i);
                break;
            }
            if ((close > 0) && ((close < open) || (open < 0))) {

                if (format.charAt(close + 1) !== '}') {
                    throw new Error('format stringFormatBraceMismatch');
                }

                result += format.slice(i, close + 1);
                i = close + 2;
                continue;
            }

            // Copy the string before the brace
            result += format.slice(i, open);
            i = open + 1;

            // Check for double braces (which display as one and are not arguments)
            if (format.charAt(i) === '{') {
                result += '{';
                i++;
                continue;
            }

            if (close < 0) throw new Error('format stringFormatBraceMismatch');


            // Find the closing brace

            // Get the string between the braces, and split it around the ':' (if any)
            var brace = format.substring(i, close);
            var colonIndex = brace.indexOf(':');
            var argNumber = parseInt((colonIndex < 0) ? brace : brace.substring(0, colonIndex), 10) + 1;

            if (isNaN(argNumber)) throw new Error('format stringFormatInvalid');

            var argFormat = (colonIndex < 0) ? '' : brace.substring(colonIndex + 1);

            var arg = args[argNumber];
            if (typeof (arg) === "undefined" || arg === null) {
                arg = '';
            }

            // If it has a toFormattedString method, call it.  Otherwise, call toString()
            if (arg.toFormattedString) {
                result += arg.toFormattedString(argFormat);
            }
            else if (useLocale && arg.localeFormat) {
                result += arg.localeFormat(argFormat);
            }
            else if (arg.format) {
                result += arg.format(argFormat);
            }
            else
                result += arg.toString();

            i = close + 1;
        }

        return result;
    }

})(window);