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I guess you are asking about Verilog delay specifications?
Is this the latest LRM?It's all in the LRM
defparam is planned to be removed in future Verilog versions, using it with module instantiations means to throw away a specific language construct (module parameters) in this situation.
Concisely summarized.To sum up this thread, "#" is used in two different contexts: In a procedural context, it is used as a delay control to block execution of the current procedural thread, and in a structural context, it is used to declare or override a set of parameters.