As the names imply, a serial port sends data on a small number of wires (often just two wires for the actual data), one bit after the other. A parallel port has many more wires used for data transmission, so many bits can be transmitted simultaneously. The big downside for a serial port is that the "bandwidth" (data bits per second) is very low compared to a parallel port running at the same rate.
BUT....parallel data busses have a problem. Electromagnetic interference causes "crosstalk" between the different bits on different data signal lines, and the faster the data rate, the worse the problem gets. Crosstalk causes data transmission errors to occur (a bad thing). So it can actually be a better solution to run a serial data connection at a very, very fast speed than to use a parallel data bus that will have to run at a lower speed (or use more expensive cables and circuitry).
In order to do this, each end of the computer bus will use a chip that contains a serial/parallel conversion circuit (SERial/DESerial, or SERDES). This allows the computers to operate on many bits in parallel (byes, words, etc.) but still transmit them in serial over a relatively cheap cable with high data rates.
Depends, is the device serial or parallel?
parallel
RS-232 serial ports, Parallel ports, and PS2 mouse and keyboard ports. These days, all of these functions can be handled by Universal Serial Bus (USB ) connections.
Some key differences between a Serial and Parallel Adder are that a Serial Adder is slower, a Parallel adder is a combinational circuit and the time required for addition depends on the number of bits in a Serial, but not a Parallel. A Serial Adder is a sequential circuit while a Parallel is a combinational circuit.
multiplexer can be used as parallel to serial converter.
Usually serial. Parallel is almost completely gone, and serial is getting replaced by USB.
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Serial
A "serial to parallel" converter converts a serial data connection to a parallel data connection. For example, in computer storage, there are controller chipsets that convert SATA (Serial ATA) to PATA (Parallel ATA, also called IDE or EIDE).
parallel
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It is less costly to design ever faster serial lines than to create and build the necessary circuitry to keep faster parallel channels properly aligned. This is why Parallel ATA and Parallel SCSI have migrated to Serial ATA (SATA) and Serial SCSI (SAS).