What is Materialize Waves and how to use it?

Materialize CSS Waves is an external library that we've included to create the ink effect outlined in Material Design.
 
Applying Waves : 

The waves effect can be applied to any element. To put the waves effect on buttons, you just have to put the class waves-effect on to the buttons. If you want the waves effect to be white instead, add both waves-effect waves-light as classes.

<div class="row">
       <tr>
         <td>waves-light</td>
         <td class="center-align">
           <a class="waves-effect blue waves-light btn" href="#!">Click Here !</a>
         </td>
       </tr>
</div>​