The word that is parallel to the bold word ''by'' in the given passage is ''alongside''.
What is the significance of parallel words?
The words that can be used as an alternative or a synonym to any given word or set of words in the passage are mostly referred to as parallel words.
The words such as ''alongside'' can be regarded as one of befitting parallel word for ''by'' given as bold in the above passage, as it maintains the interpretation of the meaning of the passage.
Therefore, the significance regarding parallel words in the given passage has been aforementioned.
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