nodecomponent is standalone — you can run it on its own and it will provide full-node functionality: syncing up the Witnet block chain, validate transactions and blocks in real time, and (optionally) propose blocks.
walletcomponent is NOT standalone. It requires a connection to an instance of the
nodecomponent that will act as its "backend":
nodeinstance that acts as the backend for the
walletcomponent contained within the Sheikah Witnet wallet desktop app, which follows exactly the same architecture:
nodecomponent, because otherwise they may be disclosing their addresses and balances to 3rd parties, as the queries between the
nodecomponents need to be sent over the Internet.
walletcomponent is different than the one from the
nodenot because it has much more advanced wallet functionality, and uses a WebSockets transport instead of plain TCP (this is to enable web wallets and similar apps).