What's The Difference Between "Defense" & "Wait"?

[Vanchatron]

During a battle, if you look at the bottom right hand corner of the screen you'll see Defense & Wait.

What do these do and what is the difference between them both?

Thanks.

[Stepsongrapes]

Defend ends the stack's turn, but gives a defense bonus until next turn.

Wait delays the stack's action order in the current turn (visible via the "alt" key), but doesn't end it and gives no defense bonus.

[Vanchatron]

Thank you :)