This is what we found on Wikipedia regarding the Paint:

Paint is a material or mixture of colored liquid that, when applied to a solid material and allowed to dry, adds a film-like layer. As art, this is used to create an image or images known as a painting. Paint can be made in many colors and types. Most paints are either oil-based or water-based, and each has distinct characteristics.

Primitive forms of paint were used tens of thousands of years ago in cave paintings.

Clean-up solvents are also different for water-based paint than oil-based paint. Water-based paints and oil-based paints will cure differently based on the outside ambient temperature of the object being painted (such as a house).