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However, unlike sriracha which is very dependent on chilis for its taste, the hot sauce with its many ingredients is very tangy. It’s because its other main ingredient is vinegar. If you taste hot sauce, you get a burst of heat together with the tangy vinegar. Vinegar serves two purposes: makes the hot sauces delicious with its flavorful play with the heat and it also helps preserve the chili, too. This is one reason why most commercially made hot sauces can be stored at room temperature. 

The differences, if any, are typically minor and often come down to regional preferences in terminology or slight variations in the type of chili pepper used, the coarseness of the grind or the inclusion of other spices in the mix. For most culinary purposes, these terms can be used interchangeably without significantly affecting the flavor or outcome of the dish.