Enhanced Transaction Sequencing for Modular Distributed Ledgers

We introduce an improved congestion control algorithm for managing transactions that access shared objects in distributed ledgers utilizing the Move Virtual Machine, such as Sui and IOTA Rebased. The current congestion control algorithm prioritizes fairness by favoring high-paying transactions, but this often comes at the expense of throughput due to an unnecessarily high number of transaction deferrals. To address this, we propose a more rigorous definition of fairness that reduces excessive deferrals without compromising the execution efficiency of non-concurrent transactions. Building on this refined fairness property, our algorithm can achieve higher throughput and lower latency while preserving this new notion of fairness and ensuring that the load on the busiest execution worker remains unchanged.