CWDM and DWDM are both types of WDM systems that transmit multiple wavelengths of laser light through a single optical fiber. However, they differ in channel spacing, transmission reach, and cost. CWDM has a wider channel spacing of 20nm, a shorter transmission reach of 160km, and a lower cost compared to DWDM. DWDM has a narrower channel spacing of 0.2-0.8nm, can transmit signals over longer distances, and has a higher cost due to its use of temperature-controlled lasers. The key differences are that CWDM is cheaper but has lower performance, while DWDM has a higher performance but also a higher cost.