Parachains are independent Polkadot-based blockchains that connect to and run off the Polkadot network’s main Relay Chain. Parachains are also known as shards. Parachains run in parallel to the Relay Chan and process transactions using sharding to achieve extremely fast transaction times. By paying to use a parachain slot and connecting to the main relay Chain, parachains can host their own blockchain-based tokenized assets and control their own governance processes. Parachains can also be found on the Kusama network’s Rococo Relay Chain (both the Polkadot and Kusama networks have the capacity to operate 100 parachains via their corresponding Relay Chain).