Observe the characteristics of Wave 1 and Wave 2.

Wave 1 shows compressions and rarefactions that are more spread out, indicating a longer wavelength.
Wave 2 shows compressions and rarefactions that are closer together, indicating a shorter wavelength.

The relationship between wave speed ($v$), frequency ($f$), and wavelength ($\lambda$) is given by the formula:

The problem states that the waves are traveling at the same speed ($v$ is constant).

Since $v$ is constant, frequency ($f$) and wavelength ($\lambda$) are inversely proportional. This means if the wavelength decreases, the frequency must increase, and vice versa.
Because Wave 2 has a shorter wavelength than Wave 1, Wave 2 must have a higher frequency than Wave 1.

Assuming the waves are traveling at the same speed:
Wave 1 has a longer wavelength and a lower frequency.
Wave 2 has a shorter wavelength and a higher frequency.

The question is incomplete, but based on the visual information and the assumption of equal speed, the primary difference is in their wavelengths and consequently their frequencies.

$\boxed{\text{Wave 2 has a shorter wavelength and a higher frequency than Wave 1.}}$