Ethereum is platform with smartcontracts, waves is only tokens.
why you can say that's, if i see you're acount rank is a full member, but your knowledge in cryptocurrency like a newbie, or you just join in forum just for Boutny???
you can't explain different and the same platform from Ethereum and Waves, waves not just a token, they are like Ethereum can make smart contract, wave own their blockchain without stand in other blockchain platform like Ethereum
like Mr.Zero said, nnot just Ethereum can make smartcontract on their platform, waves can make user for making their own token using Waves Blockchain