In order to fix the blockchain scalability issue and increase the throughput of blockchain networks, efficient transaction processing is crucial. This article will go over the fundamentals of parallelization, including how it works, the different forms, and the possible benefits.
What Is Parallelization?
The term “parallelism” refers to a technique that allows for the simultaneous processing of numerous tasks. Computer scientists use the term “parallel computing” to describe the practice of running numerous processes in parallel, which is closely related to the idea of parallelization.
How Does Parallelization Work?
Instead of processing transactions sequentially, data from the network can be organized in a way that allows for their simultaneous validation through parallelization. Multiple nodes share the workload of processing transactions. The distributed nature of the network allows for faster processing times and less congestion by distributing the transaction load among multiple nodes.
With parallel transaction processing, the network checks all the potential outcomes of verifying a set of transactions by exploring all the possible states at once. Before transactions are officially recorded on the ledger, the network can evaluate their potential impact in this way. When all of the nodes have completed their evaluations in parallel, they will reach a consensus on a common state that will reflect that.
Parallelization models
There are two main types of blockchain parallelization: optimistic parallelization and state-access parallelization.
1. Optimistic Parallelization. The network immediately executes transactions concurrently in the optimistic parallel execution paradigm, skipping the initial sorting phase. This strategy works under the assumption that the majority of queued transactions are unrelated to one another and uses a technique to fix any interdependent transactions discovered after the fact. This implies that the system will make adjustments to keep all data accurate in the event that transactions that were previously believed to be unconnected but really impact each other are subsequently determined to be related.
2. State-Access Parallelization. The first step in the state-access parallel execution model is to classify transactions based on how they influence the network’s state. This includes interactions with specific accounts or smart contracts. This is useful for finding transactions that can run in parallel without causing any problems. There is simultaneous execution of transactions that do not interact with one another. On the flip side, gas fee priority ensures that transactions affecting related state variables are handled in a certain sequence.
Different Types of Parallelization
Transaction-level parallelization
Multiple transactions can be processed in parallel using transaction-level parallelization. This allows for more transactions per second (TPS) by increasing the network’s throughput. In addition to making the network more responsive, it speeds up the confirmation of transactions. For blockchains with a lot of users and a need for fast processing times, this kind of parallelization is gold.
Parallelization at the transaction level is not without its difficulties. Examples of data dependencies that might arise from processing transactions in parallel include situations where one transaction’s outcome might affect another; as a result, sophisticated data management procedures are sometimes necessary to guarantee consistency and dependability.
Block-level parallelization
To increase the scalability of a network, block-level parallelization entails creating and validating blocks simultaneously. This method eliminates the possibility of network congestion and allows the blockchain to process more blocks simultaneously, allowing for more transactions.
To keep the blockchain secure, block-level parallelization must be executed with caution. The increased computing demands of block-level parallelization also increase the hardware requirements of the nodes in the network. Because of this, certain users may be unable to join the network, which would compromise its accessibility and decentralization.
Smart contract parallelization
“Smart contract parallelization” means running numerous smart contracts in parallel. Decentralized apps’ (DApps) speed, responsiveness, and scalability can all be improved in this way.
To alleviate some of the strain on the main chain, optimistic rollups, for example, complete transactions off-chain and only then interact with it to confirm them. For smart contract applications, Ethereum’s Validium scaling solution offers scalability and anonymity by combining zero-knowledge proofs with off-chain processing.
Benefits of Parallelization
High transaction processing speed
The distribution of tasks across multiple nodes decreases transaction execution times, which boosts the transaction processing speed. Networks that utilize parallelization tend to be more efficient than those operating on sequential processing models.
Scalability
In order to solve the issue of blockchain scalability, parallelization distributes the validation of transactions over multiple nodes. With horizontal scaling, the network can expand or contract in response to changes in demand.
Reduced gas costs
Parallelization reduces fees by allocating transactions to node subgroups. This is less costly compared to sequential processing, where each transaction is validated by every node. Furthermore, faster transaction speeds decrease the competition between nodes, driving down transaction fees even further.
Closing Thoughts
A technique for handling numerous transactions concurrently is known as parallelization. Among its numerous advantages include faster processing times for transactions, more scalability, and lower fees. Blockchain networks will be able to scale much farther in the future by combining parallelization with other scaling options like sharding.
