Answer:
wax paper is coated in wax while parchment paper is coated in bleached or unbleached silicone.
The main difference between wax paper and parchment papers is their respective coatings. Parchment paper is coated with silicone to give it a nonstick, heat-resistant surface, and wax paper (or waxed paper) is—as the name suggests—coated with a soybean or paraffin wax.