Wave is a communication platform that merges email, instant messaging, wikis and social networking. It allows for real-time collaboration on shared documents between multiple users. Key features include the ability to have multimedia conversations in waves, embed waves in blogs, and use extensions like translation bots, mind maps and video chat. While still developing missing features, Wave shows promise for language learning by facilitating collaboration between learners and native speakers from any location on open projects like wikis, itineraries and notes. Potential issues include usability challenges, privacy concerns and ensuring waves remain organized.