The ingredients can be applied to either waffles or pancakes. The main difference is in how they are cooked.
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Now, waffles are really easy to make and use the same batter you use to make pancakes. The only real difference between the two is how they look; whereas pancakes are round and are baked on a griddle or frying pan, waffles are either square or heart-shaped with a honeycomb surface that are baked in their own machine. I will say that waffles are thicker, more bread-like, and crisper and their grids do make ideal pockets for the maple syrup and butter.
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