I'll take a shot at a general description for you:
they are the same in concept for how they work. Both rely on a vacuum source, and both deal w/ boost. functionality wise the bov installed on the intake charge, the wastegate is on the exhaust charge.
bov bleeds off boost during shifting or if not accelerating so your turbo isn't getting backpressure (trying to charge air into closed throttle body blades)and can help attempt to protect from overboost (i.e. not reliable form of protection). bov is NOT uses to regulate your boost pressure.
wastegate is used to control/regulate your boost pressure. Also is a more reliable form of overboost protection.
In the general scheme of things....bov just conserves your turbo by making it not try to blow into a closed throttle body (makes the whoosh sound you here on manual tranny turbo'd cars). Wastegate controls your boost.