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What is needed is a way to control in Lua programs (essentially in a parent thread controling all the other threads it creates and monitors) the resource usage and inform the VM which metered operations are allowed or not, and the VM should provide such basic metrics: the timeslot which is requested or the amount of memory requested or no longer in use. Nothing more. Now we can design a parent thread to do whatever it wants to apply its own policy for the children threads it creates and controls so none of these children threads can abusely take all the resources needed by other competing children threads (including the parent thread itself which can be protected from being blocked by its children).

There is a Lua Library to do that: LuaStepper (