So, I am wondering, can I create water to just sit but have waves. I mean can i make a realistic water texture that has actual waves. Do i have to create a animation for this.
You can create water with or without waves.
You will need knowledge of some shader programming. Head to Tutorials, and learn steadily on relevant examples: http://developer.playcanvas.com/en/tutorials/
Thank you and have a good day.
Good Luck!