- What are Parachains and what are Parathreads?
Different projects/blockchains compete with each other for a slot/parachain in the polkadot network. Once all slots are filled the fun part begins.
Parachains are blockchains connected to the relay chain which is the heart of Polkadot network.
Parachains are different blockchains that operate in parallel to the relay chain. The parachains can communicate and message between each other making it more interoperable, share data, share info etc.
Parachains have a dedicated slot for their chains with full security, instant connectivity and full throughput.
Parathreads share slots among the group, full security, instant connectivity but a partial volume.
Both have the same API but the difference is the economics. Parathreads will pay on a block per block basis. Parachains can become parathreads and vice versa.
When parachains retire they just retire into parathreads and still continue processing transactions and continue doing what they did but they just have to pay their way now. PAYG - pay as you go. So in essence, the retire is much more graceful.
They have the same benefits for connecting to the Polkadot network that a full parachain has.
- What is a Relay chain and how do Parachains/Parathreads relate to the Relay chain?
Parachains bridges that can also be formed as parathreads connects to the relay chain. Itâs mainly used for consensus, security, staking and governance etc. The relay chain is the heart of polkadot network that secures a way of communication between the different blockchains connected to the relay chain.