OptSmart: A Space Efficient Optimistic Concurrent Execution of Smart Contracts
Parwat Singh Anjana, Sweta Kumari, Sathya Peri, Sachin Rathor, Archit, Somani

TL;DR
This paper introduces OptSmart, a concurrency framework for smart contract execution that leverages optimistic software transactional memory to improve efficiency and throughput in blockchain systems.
Contribution
It presents a novel concurrent miner and validator that execute smart contract transactions in parallel, ensuring correctness and significantly outperforming existing methods.
Findings
Achieves higher throughput than state-of-the-art methods.
Ensures correct concurrent execution of smart contracts.
Demonstrates significant performance improvements.
Abstract
Popular blockchains such as Ethereum and several others execute complex transactions in blocks through user-defined scripts known as smart contracts. Serial execution of smart contract transactions/atomic-units (AUs) fails to harness the multiprocessing power offered by the prevalence of multi-core processors. By adding concurrency to the execution of AUs, we can achieve better efficiency and higher throughput. In this paper, we develop a concurrent miner that proposes a block by executing the AUs concurrently using optimistic Software Transactional Memory systems (STMs). It captures the independent AUs in a concurrent bin and dependent AUs in the block graph (BG) efficiently. Later, we propose a concurrent validator that re-executes the same AUs concurrently and deterministically using a concurrent bin followed by a BG given by the miner to verify the proposed block. We rigorously…
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Taxonomy
TopicsDistributed systems and fault tolerance · Blockchain Technology Applications and Security · Ferroelectric and Negative Capacitance Devices
