Parachain
Specialized blockchain connected to Polkadot Relay Chain — shares security.
A parachain is a specialized blockchain that connects to the central Relay Chain (Polkadot or Kusama) and shares its security, while maintaining its own logic and governance.
Architecture:
•Relay Chain — central coordinator, provides consensus and finality
•Parachains — specialized chains with custom logic
•Bridges — connections to external chains (Ethereum, Bitcoin)
•Collators — nodes collecting parachain blocks and sending to relay chain
Parachain auctions:
•Limited number of parachain slots (100 on Polkadot)
•Projects compete for slot through crowdloan auctions
•DOT tokens locked (bond) for duration of lease (2 years)
•At end of lease, DOT returned to owners
Examples of Polkadot parachains:
•Acala — DeFi, stablecoin aUSD
•Moonbeam — EVM compatibility, Ethereum bridges
•Astar — smart contracts, EVM and Wasm
•Centrifuge — RWA (real-world assets)
Kusama:
•Polkadot "canary network" — experimental, faster
•Projects test on Kusama before Polkadot