This effect implements ocean waves using Tessendorf’s paper, using the Fast Fourrier Transform. This Tutorial was extremely useful to implement it.
The same technique was used in Sea of Thieves, for it’s ocean waves - except it wasn’t implemented in Niagara.
Prior to that implementation, I also implemented without the tutorial mentioned above, in Unity3D, although it visually doesn’t shine as much, it did functionally just the same
And a visualisation of the displacement buffers
Prior to this, I also explored Gersner waves. This combines a series of sine-curve based displacement. It’s much more simple, but doesn’t scale as well when looking to get the same amount of defail as the (I)FFT approach affords.