Cumulative steady state Monte Carlo method for processes with exchange between reactive species. Case of controlled radical copolymerization

•Method speeds up stochastic modeling of processes with fast equilibration.•Stochastic modeling of controlled radical (co)polymerization omits activation, accelerating simulations.•To be applied for all processes for which steady state conditions can be formulated.•Simulation time up to hundreds times shorter than using other algorithms.•Complete information about chain structures can be obtained.