ACE: Asynchronous and Concurrent Execution of Complex Smart Contracts

Abstract

Smart contracts are programmable, decentralized and transparent financial applications. Because smart contract platforms typically support Turing-complete programming languages, such systems are often said to enable arbitrary applications. However, the current permissionless smart contract systems impose heavy restrictions on the types of computations that can be implemented. For example, the globally-replicated and sequential execution model of Ethereum requires low gas limits that make many computations infeasible.