Was always curious about this, so I did a little research -
The difference between Prague Powder #1 and Tenderquick is that Tenderquick contains Sodium NitrIte AND sodium NitrAte, along with some sugar. Sodium NitrAte is found in Prague Powder #2. here's a couple snippets I found surfing around the internet -
Insta Cure #1 (Prague Powder #1) is used for any type of cured meat product that will require cooking, such as bacon, hams that are not air dried, smoked but not dried sausages etc. It is 93.5% table salt, 6.5 % Sodium Nitrite. 2 tsps of insta cure #1 is enough to cure roughly 10 lbs of sausage or bacon.
Insta Cure #2 (Prague Powder #2) is used for meat products that will be air dried and not cooked, such as dried salamis, pepperonis etc, and some air dried hams. It contains Both Nitrates and nitrites.
The reason a cure with the addition of sodium nitrate (Insta Cure #2) is used for such long curing products is because it breaks down very slowly over a period of time into sodium nitrite. In the words of the great sausage maker, Rytek Kutas, the sodium nitrate works like an extended release medication for meats that require very long curing times, like dry cured sausages.
Sodium nitrite, even in small quantities, is very dangerous, and can kill. The lowest known lethal dose of sodium nitrite is 71mg per kg of body weight. At this level, about a tsp of pure sodium nitrite could be enough to kill an average sized adult.
Not trying to scare anyone, but it seems like a lot of people have very high amounts of curing salts in their bacon cures, and they are really unnecessary. The point of using the nitrites/nitrates is just to prevent spoilage (preservative) and kill unwanted botulism. 2 teaspoons is enough for 10 POUNDS! Regular salt will do the rest of the work. Using cups and cups of curing salts to make bacons or hams is just a waste of expensive salt and potentially harmful for you.
YOU WANNA THROWDOWN?
You should! Fun and fabulous prizes await you!*
I have a bunch of stuff that cooks meat outside using some form of combustion.
*Actual prizes may not be fabulous. It all depends on what your definition of fabulous is. You're not going to win a car or anything, so don't get your hopes up. Just trying to give you realistic expectations.