diff --git a/src/storage/v2/commit_log.hpp b/src/storage/v2/commit_log.hpp
new file mode 100644
index 000000000..edb34b508
--- /dev/null
+++ b/src/storage/v2/commit_log.hpp
@@ -0,0 +1,130 @@
+/// @file commit_log.hpp
+#pragma once
+
+#include <cstdint>
+#include <mutex>
+
+#include "utils/memory.hpp"
+#include "utils/spin_lock.hpp"
+
+/// This class keeps track of finalized transactions to provide info on the
+/// oldest active transaction (minimal transaction ID which could still be
+/// active).
+///
+/// Basically, it is a set which, at the beginning, contains all transaction
+/// IDs and supports two operations: remove an ID from the set (\ref
+/// SetFinished) and retrieve the minimal ID still in the set (\ref
+/// OldestActive).
+///
+/// This class is thread-safe.
+class CommitLog final {
+ public:
+  // TODO(mtomic): use pool allocator for blocks
+  CommitLog()
+      : head_(nullptr),
+        head_start_(0),
+        next_start_(0),
+        oldest_active_(0),
+        allocator_(utils::NewDeleteResource()) {}
+
+  CommitLog(const CommitLog &) = delete;
+  CommitLog &operator=(const CommitLog &) = delete;
+  CommitLog(CommitLog &&) = delete;
+  CommitLog &operator=(CommitLog &&) = delete;
+
+  ~CommitLog() {
+    while (head_) {
+      Block *tmp = head_->next;
+      head_->~Block();
+      allocator_.deallocate(head_, 1);
+      head_ = tmp;
+    }
+  }
+
+  /// Mark a transaction as finished.
+  void MarkFinished(uint64_t id) {
+    std::lock_guard<utils::SpinLock> guard(lock_);
+
+    Block *block = FindOrCreateBlock(id);
+    block->field[(id % kIdsInBlock) / kIdsInField] |= 1ULL
+                                                      << (id % kIdsInField);
+    if (id == oldest_active_) {
+      UpdateOldestActive();
+    }
+  }
+
+  /// Retrieve the oldest transaction still not marked as finished.
+  uint64_t OldestActive() {
+    std::lock_guard<utils::SpinLock> guard(lock_);
+    return oldest_active_;
+  }
+
+ private:
+  static constexpr uint64_t kBlockSize = 8192;
+  static constexpr uint64_t kIdsInField = sizeof(uint64_t) * 8;
+  static constexpr uint64_t kIdsInBlock = kBlockSize * kIdsInField;
+
+  struct Block {
+    Block *next{nullptr};
+    uint64_t field[kBlockSize]{};
+  };
+
+  void UpdateOldestActive() {
+    while (head_) {
+      // This is necessary for amortized constant complexity. If we always start
+      // from the 0th field, the amount of steps we make through each block is
+      // quadratic in kBlockSize.
+      uint64_t start_field = oldest_active_ >= head_start_
+                                 ? (oldest_active_ - head_start_) / kIdsInField
+                                 : 0;
+      for (uint64_t i = start_field; i < kBlockSize; ++i) {
+        if (head_->field[i] != std::numeric_limits<uint64_t>::max()) {
+          oldest_active_ = head_start_ + i * kIdsInField +
+                           __builtin_ffsl(~head_->field[i]) - 1;
+          return;
+        }
+      }
+
+      // All IDs in this block are marked, we can delete it now.
+      Block *tmp = head_->next;
+      head_->~Block();
+      allocator_.deallocate(head_, 1);
+      head_ = tmp;
+      head_start_ += kIdsInBlock;
+    }
+
+    oldest_active_ = next_start_;
+  }
+
+  Block *FindOrCreateBlock(uint64_t id) {
+    if (!head_) {
+      head_ = allocator_.allocate(1);
+      allocator_.construct(head_);
+      head_start_ = next_start_;
+      next_start_ += kIdsInBlock;
+    }
+
+    Block *current = head_;
+    uint64_t current_start = head_start_;
+
+    while (id >= current_start + kIdsInBlock) {
+      if (!current->next) {
+        current->next = allocator_.allocate(1);
+        allocator_.construct(current->next);
+        next_start_ += kIdsInBlock;
+      }
+
+      current = current->next;
+      current_start += kIdsInBlock;
+    }
+
+    return current;
+  }
+
+  Block *head_{nullptr};
+  uint64_t head_start_{0};
+  uint64_t next_start_{0};
+  uint64_t oldest_active_{0};
+  utils::SpinLock lock_;
+  utils::Allocator<Block> allocator_;
+};
diff --git a/tests/unit/CMakeLists.txt b/tests/unit/CMakeLists.txt
index 305bb9008..59adc6db6 100644
--- a/tests/unit/CMakeLists.txt
+++ b/tests/unit/CMakeLists.txt
@@ -27,6 +27,9 @@ target_link_libraries(${test_prefix}bolt_encoder mg-single-node kvstore_dummy_li
 add_unit_test(cache.cpp)
 target_link_libraries(${test_prefix}cache mg-distributed kvstore_dummy_lib)
 
+add_unit_test(commit_log_v2.cpp)
+target_link_libraries(${test_prefix}commit_log_v2 glog gflags)
+
 add_unit_test(concurrent_id_mapper_distributed.cpp)
 target_link_libraries(${test_prefix}concurrent_id_mapper_distributed mg-distributed kvstore_dummy_lib)
 
diff --git a/tests/unit/commit_log_v2.cpp b/tests/unit/commit_log_v2.cpp
new file mode 100644
index 000000000..2e1dbafbc
--- /dev/null
+++ b/tests/unit/commit_log_v2.cpp
@@ -0,0 +1,52 @@
+#include "storage/v2/commit_log.hpp"
+
+#include "gtest/gtest.h"
+
+TEST(CommitLog, Simple) {
+  CommitLog log;
+  EXPECT_EQ(log.OldestActive(), 0);
+
+  log.MarkFinished(1);
+  EXPECT_EQ(log.OldestActive(), 0);
+
+  log.MarkFinished(0);
+  EXPECT_EQ(log.OldestActive(), 2);
+}
+
+TEST(CommitLog, Fields) {
+  CommitLog log;
+
+  for (uint64_t i = 0; i < 64; ++i) {
+    log.MarkFinished(i);
+    EXPECT_EQ(log.OldestActive(), i + 1);
+  }
+
+  for (uint64_t i = 128; i < 192; ++i) {
+    log.MarkFinished(i);
+    EXPECT_EQ(log.OldestActive(), 64);
+  }
+
+  for (uint64_t i = 64; i < 128; ++i) {
+    log.MarkFinished(i);
+    EXPECT_EQ(log.OldestActive(), i < 127 ? i + 1 : 192);
+  }
+}
+
+TEST(CommitLog, Blocks) {
+  CommitLog log;
+
+  for (uint64_t i = 0; i < 8192 * 64; ++i) {
+    log.MarkFinished(i);
+    EXPECT_EQ(log.OldestActive(), i + 1);
+  }
+
+  for (uint64_t i = 8192 * 64 * 2; i < 8192 * 64 * 3; ++i) {
+    log.MarkFinished(i);
+    EXPECT_EQ(log.OldestActive(), 8192 * 64);
+  }
+
+  for (uint64_t i = 8192 * 64; i < 8192 * 64; ++i) {
+    log.MarkFinished(i);
+    EXPECT_EQ(log.OldestActive(), i < 8192 * 64 - 1 ? i + 1 : 8192 * 64 * 3);
+  }
+}