The main difference is type 1 is an autoimmune disease and type 2 is a metabolic disorder. Type 1's do not produce insulin; type 2'ss for the most part may produce insulin but the body may not use it correctly.
Does that help or do you need more details? Here's a handy chart that discusses all types of diabetes: https://www.diabetes.co.uk/diabetes-types.html#:~:text=In%20this%20video%20we%20look,the%20UK%20have%20type%201.
"Its mainly characterized by hypoglycemia". Not really as hypos usually occur as a result of insulin as in a miscalculation or for a few other reasons. Unless one has reactive hypoglycemia it doesn't usually happen that someone with diabetes randomly gets hypos (at least for type 1's). Are you experiencing a lot of hypos? Your flair says type 2 so I'm not sure--you really need to speak to your doctor about why you're having them--are you on insulin as a type 2?