NeoPixel Code

What does "wait" do in this function?

// Fill the dots one after the other with a color
void colorWipe(uint32_t c, uint8_t wait) {
  for(uint16_t i=0; i<strip.numPixels(); i++) {
    strip.setPixelColor(i, c);
    strip.show();
    delay(wait);
  }

Thanks in advance vor the answer.