Hi @alexpolo01 and @wroos 
I’m happy to shed a bit more light here. As @Kal_Lam said above, KoBoCollect is a fork of the excellent ODK Collect. As of today there are no substantive differences anymore between the two apps. Users are free to use either one for their data collection work. KoBoToolbox’s online features are built to be fully compatible with both apps, so there is no advantage of one over the other.
We don’t recommend having both apps installed concurrently. (This could lead to some confusion depending on the Android settings. For example, you could use ODK Collect to download your blank forms but then be asked to choose between the two apps for entering data.)
Historically there used to be some significant differences. Back in 2009 we made a number of significant changes to ODK Collect that became KoBoCollect. That included cascading questions, hiding delete and edit buttons for field data collection, and other changes. That was in part because XLSForm was not yet an option and we built a formbuilder for all question types and advanced settings, including cascading questions, which were saved directly as an XML file for the mobile app. All of these changes were eventually added to ODK Collect over the years, along with many other great features. So in 2014 we decided to refork KoBoCollect off ODK Collect, keeping only minimal changes. Today these include the KoBoToolbox server in the configuration dropdown, a reference back to ODK Collect, and the KoBoToolbox logo and name.
We update the app periodically; the most recent update was done two weeks ago and released via the Google Play Store. You can find the source code here. There are tens of thousands of KoBoCollect installations used around the world, so we are not planning to discontinue KoBoCollect at this point. But if you are starting a new project you may very well start with ODK Collect. One advantage is that the app is updated more frequently than KoBoCollect, so you may receive bug fixes more quickly that way.
Let me know if you have any other questions.
