According to its website http://wave.google.com, Google Wave is an online tool for real-time communication and collaboration. A wave can be both a conversation
and a document where people can discuss and work together using richly formatted text, photos, videos, maps, and more.
What is a wave? A wave is a way of communicating either by conversation or document. Communication and collaboration can be done using richly formatted text, photos, videos, maps, and more. A wave is shared, thus, it enables everyone to participate and reply anywhere in the message, edit the content and add participants at any given time. Their is a that playback lets anyone rewind the wave to see review the conversation. A wave is also real time, thus, all communications are transmitted as you type, participants on a wave can have faster conversations, see edits and interact with extensions in real-time.