Waves transfer energy through a medium without transferring matter. There are two main types of waves: transverse waves, where the medium's particles move perpendicular to the wave's direction; and longitudinal waves, where particles move parallel. Characteristics like wavelength, frequency, amplitude, and speed define a wave's properties. Energy is transferred through reflections, where waves bounce back at the same angle they arrive. Reflections can be partial or total, depending on the boundary material.