Parachain
| A parachain is an application-based data structure that runs in parallel with other parachains on the Polkadot network. By running in parallel, parachains are able to share data and communicate with each other directly, without going through a centralized relay chain. This allows for a more efficient and scalable network, as well as more flexible and powerful applications. Polkadot is a next-generation blockchain protocol that enables parachains to interoperate with each other, as well as with other blockchains. Polkadot is being developed by the Web3 Foundation, a Swiss non-profit foundation that supports and funds research and development of decentralized technologies. The Polkadot network is composed of two types of chains: relay chains and parachains. Relay chains are responsible for managing the Polkadot network and validating transactions. Parachains are application-specific chains that can be used for a variety of purposes, such as payments, smart contracts, or data storage. Parachains are connected to the relay chain via "collators". Collators are responsible for collecting and validating transactions from parachains, and then sending them to the relay chain for inclusion in a block. The Polkadot network is still in development, and is currently in its testnet phase. Testnet is a testing environment that allows developers to test and experiment with new features and applications before they are launched on the mainnet. The Polkadot network is expected to launch in 2020. |
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