Bell peppers are not called paprika; rather, they are the primary ingredient used to make paprika. The confusion may arise from the fact that both bell peppers and paprika are derived from the same species of plant, Capsicum annuum. However, the process of turning bell peppers into paprika involves drying and grinding the peppers into a fine powder, resulting in the popular spice known as paprika.
Although sriracha currently has no parallel in the culinary world, it’s spicy cousin sambal oelek is slowly giving it a run for its money. These two chili-based sauces have a lot in common, from chili, salt, vinegar and water, so much is the same. The difference comes down to the garlic and sugar used in sriracha sauce and of course in the cooking methodology.