Multi-threaded in-memory processing of a transaction log for concurrent access to data during log replay

A dataset is recovered after a server reboot while clients access the dataset. In response to the reboot, not-yet-completed transactions in a log are parsed to create, for each of the dataset blocks modified by these active transactions, a respective block replay list of the active transactions that modify the block. Once the block replay lists have been created, clients may access specified blocks of the dataset after on-demand recovery of the specified blocks. The on-demand recovery is concurrent with a background recovery task that replays the replay lists. To accelerate log space recovery, the parsing of the log inserts each replay list into a first-in first-out queue serviced by multiple replay threads. The queue can also be used as the cache writeback queue, so that the cache index is used for lookup of the replay list and the recovery state of a given block.