Polkadot is an open-source project led by the Web3 Foundation. It is a sharded protocol that connects different blockchain networks.
Polkadot consists of two parts: Relaychain and Parachain.
Relaychain: This is the core of Polkadot which is responsible for network security, consensus, and cross-chain interoperability.
Parachain: These are sovereign blockchains with custom tokens and optimized functionality for specific use cases. Parachain connection to Relaychain is priced on a pay-as-you-go basis or a continuous connectivity lease.
Cherry Network is built on Parity Substrate and aims to join Polkadot as a parachain. The benefits of connecting a network to the broader Polkadot ecosystem are:
Data and tokens can be transferred among parachains seamlessly.