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State-witnessed virtual transactions for atomic execution of complexity-unconstrained smart contracts

The current model of execution of persistent blockchain scripts hasn't radically changed since its introduction in Ethereum. One of the drawbacks of this model is the computational limit set per one transaction (e.g. gas limit). In this paper, we introduce a concept of Virtual Transaction and its special case, Continuation Transaction, allowing for execution of scripts of unlimited computational complexity, as well as opening up possibilities for patterns like the asynchronous execution model, routines and triggers, enabling more complex decentralised applications and a more flexible interaction model without compromising security and stability of the blockchain environment.