Waves can transfer energy from one place to another. There are two main types of waves - mechanical waves, which require a medium and can only travel through matter, and electromagnetic waves, which can travel through vacuums. The key characteristics of waves include wavelength, frequency, amplitude, crest, and trough. Mechanical waves can be transverse, with oscillations perpendicular to the direction of travel, or longitudinal, with oscillations parallel to travel. Sound waves are an example of longitudinal mechanical waves.