As a PoS system, ParallelChain validators are chosen to create new blocks and confirm transactions based on the amount of the XPLL, the native token of ParallelChain, they ‘stake’ as collateral. These validators batch transactions into blocks, and then link the blocks together to form a sequential history of transactions. There can be many validators spread across the globe. To make sure that ParallelChain is replicated correctly on all of them, validators execute a consensus algorithm using a library called HotStuff-rs and send messages to each other on a peer-to-peer network. Furthermore, ParallelChain Mainnet maintains a Byzantine Fault Tolerant system, meaning it can continue to function correctly even if some of the validators are compromised.

HotStuff-rs is a Rust implementation of the HotStuff consensus algorithm intended for production systems. To make ParallelChain Mainnet a robust platform for a variety of decentralised applications, particularly those requiring prompt transaction finality, HotStuff-rs employs extensions like block-sync and dynamic validator sets, tailoring the algorithm to be well-suited for real-world use cases.

ParallelChain Mainnet supports smart contracts written in Rust, a modern programming language with enhanced safety, speed, and concurrency. With programmability through WASM smart contracts, developers can also write smart contracts in other languages, these contracts are then compiled into WASM and deployed on ParallelChain Mainnet. This enables developers to create decentralised applications with complex logic and functionalities.

Users have to pay transaction fee in XPLL (ParallelChain’s native utility token) for transactions to be executed and included in the chain.

PRFCs (ParallelChain Request for Comments) are a set of technical standards that define the rules and specifications for creating new tokens or smart contracts that can be used on ParallelChain Mainnet. For example, the fungible basis of the PRFC-1 standard is well-suited for cryptocurrency, whereas the non-fungible nature of the PRFC-2 standard allows NFTs to be uniquely identified and distinguishable from one another.