A method and apparatus for efficient and consistent validation/conflict detection in a Software Transactional Memory (STM) system is herein described. A version check barrier is inserted after a load to compare versions of loaded values before and after the load. In addition, a global timestamp (GTS) is utilized to track a latest committed transaction. Each transaction is associated with a local timestamp (LTS) initialized to the GTS value at the start of a transaction. As a transaction commits it updates the GTS to a new value and sets versions of modified locations to the new value. Pending transactions compare versions determined in read barriers to their LTS. If the version is greater than their LTS indicating another transaction has committed after the pending transaction started and initialized the LTS, then the pending transaction validates its read set to maintain efficient and consistent transactional execution.