What is hope?
As per English dictionary hope is a feeling of expectation and desire for a certain thing to happen.
We hope for things we want. For example I hope I get the job; I hope she’ll marry me.
We hope for good outcomes. For example I hope my child returns home safely; I hope I don’t get sick.
This worldly hope is not a virtue, as it usually contains some degree of uncertainty, doubt, and personal bias and can often be misdirected and selfishly motivated.
But the hope in Bible is a virtue (faith, hope and love). Hope is believing firmly something such as God's promise that will happen in future.
Romans 8:24b - but hope that is seen is not hope; for why does one still hope for what he sees?
Hebrews 6:19 - 18 So God has given both his promise and his oath. These two things are unchangeable because it is impossible for God to lie. Therefore, we who have fled to him for refuge can have great confidence as we hold to the hope that lies before us. 19 This hope is a strong and trustworthy anchor for our souls. It leads us through the curtain into God’s inner sanctuary.
What does the hope do?
Hope is always points to the future event and make those who have hope to wait patiently or persevere until it happens.
Romans 8:25 - But if we hope for what we do not see, we eagerly wait for it with perseverance.
1 Thes 1:3 - 2 We give thanks to God always for you all, making mention of you in our prayers, 3 remembering without ceasing your work of faith, labor of love, and patience of hope in our Lord Jesus Christ in the sight of our God and Father,
What is Faith?
Faith is believing something confidently. Faith is the evidence of things not seen. By faith we understand the entire universe was created by God through His command/word which are not visible.
Heb 11:1,3 - 1 Now faith is the substance(confident, firm trust, assurance) of things hoped for, the evidence of things not seen. ... ... ... 3 By faith we understand that the worlds were framed by the word of God, so that the things which are seen were not made of things which are visible.
NLT: Heb 11:1,3 - 1 What is faith? It is the confident assurance that what we hope for is going to happen. It is the evidence of things we cannot yet see. ... ... ... 3 By faith we understand that the entire universe was formed at God's command, that what we now see did not come from anything that can be seen.
Can we have faith in past, present and future event?
Yes, we can have faith in past, present of future event.
Past: Believing that Jesus has come to the earth. (NT, Genesis, Heb 11:3)
Present: Believing that Jesus lives now in heaven. (NT)
Future: Believing that Jesus will come back again to the earth. (unfulfilled OT prophesies, Matt 24, Revelation)
What does the faith do?
Faith in God makes us to do as per the leading of Holy Spirit.
That is why Bible clearly teaches that faith without works is dead.
James 2:26 - For as the body without the spirit is dead, so faith without works is dead also.
True believers who has genuine faith will produces work and they will hear the voice of God or hear the leading of God, or have the burden to serve God:
John 10:27 - 27 My sheep hear My voice, and I know them, and they follow Me. 28 And I give them eternal life, and they shall never perish; neither shall anyone snatch them out of My hand. 29 My Father, who has given them to Me, is greater than all; and no one is able to snatch them out of My Father's hand.
If a believer is not hearing God's voice or Holy Spirit's leading then that person is not believer at all:
John 10:25 - 23 And Jesus walked in the temple, in Solomon's porch. 24 Then the Jews surrounded Him and said to Him, "How long do You keep us in doubt? If You are the Christ, tell us plainly." 25 Jesus answered them, "I told you, and you do not believe. The works that I do in My Father's name, they bear witness of Me. 26 But you do not believe, because you are not of My sheep, as I said to you.
What is the difference between hope and faith?
Faith is more broad term than hope.
Anyone can have faith in future, present or past event but hope is always having faith in future event plus waiting. Or Hope is waiting in faith.
In other words hope is believing confidently and patiently waiting for the future event yet to happen.
Faith produces work and Hope produces patience/endurance.
1 Thes 1:3 - 2 We give thanks to God always for you all, making mention of you in our prayers, 3 remembering without ceasing your work of faith, labor of love, and patience of hope in our Lord Jesus Christ in the sight of our God and Father,
NIV: 1 Thes 1:3 - We remember before our God and Father your work produced by faith, your labor prompted by love, and your endurance inspired by hope in our Lord Jesus Christ.
Application:
Is your hope produces patience?
Is your faith produces work?