How do I format paragraph styles?

Scrivener comes with a selection of paragraph styles: No Style, Block quote, Hanging indent, etc. But how do I change these styles to specify what I want? And how do I create new ones? This is pretty straightforward in Word, but I haven’t been able to figure out how to do it in Scrivener.
I’m using version 3.1.2.

Format -> Style -> New Style from Selection/Redefine Style from Selection/Delete Style.

If you haven’t already, you might want to take a look at the Interactive Tutorial, available from the Help Menu. Among other useful information, it includes a section on Styles.