What is the difference between its and it’s? Thank you!!

ITS is possessive. IT’S is a contraction of it is or it has.
The main confusion that arises from ITS/IT’S is that ITS is possessive but doesn’t use an apostrophe.
Most possessive forms use an apostrophe:
John’s house is painted red.
The dog’s nose was moist.
The noodles’ warmth will dissipate.
However when using ITS to denote possession there is no apostrophe.
While this may seem confusing remember that ITS is a possessive pronoun and that none of the possessive use :
Its main cause is yet to be known.
Her lackluster effort is to blame for staying up too late.
Their legs were tired after the long walk.
IT’S on the other hand is a contraction just like wasn’t and don’t. The apostrophe takes the place of the missing letter(s):
##it mathbfis rarr it’s##
##it mathbfhas rarr it’s##
For example:
It has been so long since I have seen you!
Can become
It’s been so long since I’ve seen you!
Or we can use IT’S in the tense:
When the microwave beeps it is time to eat.
Can become
When the microwave beeps it’s time to eat.