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Block-STM is a parallel execution engine for smart contracts, built aroundthe principles of Software Transactional Memory. Transactions are grouped inblocks, and every execution of the block must yield the same deterministicoutcome. Block-STM further enforces that the outcome is consistent withexecuting transactions according to a preset order, leveraging this order todynamically detect dependencies and avoid conflicts during speculativetransaction execution. At the core of Block-STM is a novel, low-overheadcollaborative scheduler of execution and validation tasks.  Block-STM is implemented on the main branch of the Diem Blockchain code-baseand runs in production at Aptos. Our evaluation demonstrates that Block-STM isadaptive to workloads with different conflict rates and utilizes the inherentparallelism therein. Block-STM achieves up to $110k$ tps in the Diem benchmarksand up to $170k$ tps in the Aptos Benchmarks, which is a $20$x and $17$ximprovement over the sequential baseline with $32$ threads, respectively. Thethroughput on a contended workload is up to $50k$ tps and $80k$ tps in Diem andAptos benchmarks, respectively.

Block-STM: Scaling Blockchain Execution by Turning Ordering Curse to a Performance Blessing