Both are microfibers but different textures of microfiber, just the weave of thread that forms the cloth has been made by different techniques. It's not actually a towel cloth but the texture is like a towel on smaller scale.
The texture of waffle weave as name suggests looks like a waffle. This is what waffle weave microfiber looks like
In the other hand I don't know the exact technical name/term for the towel textured microfiber if it has any other name (commonly what we call a microfiber). Even the textures are thicker or thinner (fine or coarse) scaled and of multiple types. And this is what they looks like as the name suggests again
The top one in above picture (blue) is also towards plain side. And the plain one off course has a plain flat texture
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