Recently, when I optimize my application, I found truncating tables(different table) cannot be done in parallel, that is, at one time, only one truncate operation is allowed. Is there any system parameter I can update to allow multiple truncate operations.
Sounds like you want to truncate multiple tables simultaneously, or else not wait until one has finished to begin another.
Database operations are serial with some exceptions like parallel queries. Truncate is fast (permanent too), which is why it exists. You could if necessary issue commands to do the truncates using dbms_job or the 10g scheduler or perhaps Java but this would be a lot of work to get just right, especially if you have to wait until the truncate has occured to perform some other action like a reload.
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A truncate statement is DDL not DML like delete and update. Therefore you will not be able to parallelize the operation.
Other than that, a truncate operation should be relatively fast there should be no need to parallel it even if it's possible.