1. A method for simultaneously processing multiple contexts, comprising: allocating each of a plurality of contexts defined by one or more application programs to one or more context processing elements, wherein a context processing element is configured to support the execution of a plurality of concurrent threads associated with each context to which the context processing element has been allocated; configuring a first context processing element of the context processing elements to process a first set of contexts included in the plurality of contexts based on the processing allocation; configuring a second context processing element of the context processing elements to process a second set of contexts included in the plurality of contexts based on the processing allocation; and processing data for two or more of the plurality of contexts simultaneously within the first context processing element and the second context processing element to produce processed data for the first set of contexts and the second set of contexts.