Waterfox is a 64-Bit version of Firefox. The Firefox source code is taken and compiled to run specifically for 64-Bit Windows computers. To make Waterfox stand out a bit more, it's compiled with optimizations so that it will run more efficiently and faster than just compiling Firefox as a 64-Bit program.
Open Source
Whats new: >>First revision of the Social API and support for Facebook Messenger
Click-to-play blocklisting implemented to prevent vulnerable plugin versions from running without the user's permission (see blog post)
Updated Awesome Bar experience with larger icons
JavaScript Maps and Sets are now iterable
SVG FillPaint and StrokePaint implemented
Improvements that make the Web Console, Debugger and Developer Toolbar faster and easier to use
New Markup panel in the Page Inspector allows easy editing of the DOM
Sandbox attribute for iframes implemented, enabling increased security
Over twenty performance improvements, including fixes around the New Tab page
Pointer lock doesn't work in web apps (769150)
Page scrolling on sites with fixed headers (780345)
Problems involving HTTP Proxy Transactions (Associated bugs)
Disabled HIDPI support on external monitors to avoid rendering glitches (bug 814434)
Faster JavaScript performance via IonMonkey compiler
Preliminary support for WebRTC
Experience better image quality with our new HTML scaling algorithm
Performance improvements around tab switching
Support for new DOM property window.devicePixelRatio
Improvement in startup time through smart handling of signed extension certificates
Support for W3C touch events implemented, taking the place of MozTouch events
Disable insecure content loading on HTTPS pages (62178)
Improved responsiveness for users on proxies (769764)
http://waterfoxproj.sourceforge.net/