Now that many are probably more comfortable with the new Dynamic block Authoring environment (Block Editor). I wanted to try and answer a question some may be wondering. What are these parameter sets all about? Well a parameter set is basically a quick way to build your dynamic blocks. They allow you to set up parameter & action sets for your dynamic blocks. So you could set up a button that will prompt you for a Linear parameter then have it immediately run the stretch or move action afterwords. These parameter sets come in real handy if you're trying to replicate a bunch of dynamic blocks. They do at times seem to be a little limited but the general functionality is there. I personally rarely use these but some may find a liking to them.
Once you activate the Authoring palette "Parameter Sets" you can then Copy a tool and paste it back in to create another parameter set. You can also select properties to change actions or parameters associated with the tool.
If you choose the properties option you can change the name of the tool, and also the associated actions for the tool. You can modify the amount of grips, or the properties type of parameter the tool uses.
Here you can add actions that are associated with the new tool.