Parallelization, or Parallel Transaction Execution, is a technique that allows for the simultaneous processing of multiple tasks. This method is rooted in the principle of parallelism, a key concept in computer science that enables the execution of several processes at once. In the context of blockchain technology, utilizing this approach enhances the transaction processing capacity, leading to a higher number of transactions per second (TPS) and boosting the overall efficiency of the network.
How Does it Work?
Parallelization arranges network data in a manner that allows for the simultaneous validation of multiple transactions, rather than handling them one at a time. The responsibility for executing these transactions is shared among various nodes, with each node managing different parts of the transaction workload. This approach leads to quicker processing times and helps alleviate network congestion.
In the realm of parallel transaction processing, the network concurrently explores many possible states, each representing the effects of validating a particular set of transactions. This enables the network to evaluate the potential consequences of transactions before they are officially added to the ledger. After this assessment, the nodes reach a consensus on a unified state that reflects the overall result of these parallel validations.
Parallelization Models
There are two models for parallelization: optimistic parallelization and state-access parallelization.
- Optimistic Parallelization: In the optimistic parallel execution model, the network skips the sorting phase and processes transactions simultaneously. It assumes that the transactions in the queue are independent and will revisit them to correct any mistakes. If there are any dependencies between transactions, the network will re-execute the transaction using the correct data.
- State-access parallelization: In the state-access parallel execution model, transactions are first organized according to how they affect the network’s state, taking into account elements such as their interaction with particular smart contracts or accounts. Once sorted, these transactions are submitted to the consensus system, which differentiates between those that are related and those that are not. Unrelated transactions can be executed at the same time to improve efficiency, while related transactions are managed together before they are processed, with a focus on prioritizing them based on gas fees to speed up the overall processing.
Pros of Parallelization
- High transaction processing speed
- Scalability
- Reduced gas costs
Types of Parallelization
- Transaction-level parallelization
- Block-level parallelization
- Smart contract parallelization
Smart contract parallelization involves running several smart contracts simultaneously. This approach can boost the performance of decentralized applications (DApps), making them more scalable and responsive. There are various methods that enable the parallel execution of smart contracts. One example is optimistic rollups, which process transactions off-chain and only connect with the blockchain for finalization, thereby easing the burden on the main chain. Another example is Ethereum’s Validium scaling solution, which merges zero-knowledge proofs with off-chain processing, offering enhanced scalability and privacy for smart contract applications.
Conclusion
Parallelization is a method used in transaction processing that addresses the scalability challenges of blockchain technology. By allowing transactions to be processed at the same time and spreading their validation across various nodes, Parallel Transaction Execution helps blockchain networks manage a higher volume of transactions, lower gas fees, and speed up processing times.