Parachains

Parachains are a type of blockchain that connects to a main blockchain network, usually referred to as the relay chain, and operates independently. Parachains use the security and consensus mechanism of the main chain to secure their transactions and data. The purpose of parachains is to allow projects to build their own custom blockchain with specific features and functions while leveraging the security and scalability of the main chain. This makes it easier for developers to design their own unique blockchain applications with high levels of security and reduced levels of risk. Parachains are designed to support various use cases, from decentralized finance (DeFi) to gaming, supply chain management, and other forms of web3.0 applications. Parachains can be thought of as private networks hosted on shared infrastructure, allowing applications and users to interact with one another in a decentralized manner. Overall, parachains aim to improve the scalability, security, and interoperability of blockchain networks, enabling a more secure and efficient decentralized ecosystem.