Blockchain Throughput Increases Over 100 Times in Five Years, a16z Emphasizes Importance of Predictability and Ordering

Blockchain throughput has grown over 100 times in the past five years, with some production systems now capable of processing tens of thousands of transactions per second. Venture capital firm a16z crypto points out that throughput alone does not indicate when transactions will settle; financial markets require predictability, including guarantees against censorship and ordering guarantees, to ensure transactions settle on time and operate under rules understandable to participants. a16z researchers propose the concept of Strong Chain Quality, emphasizing that resilience means no single operator controls access, reserving block space to allow effective transactions multiple routes for entry. Ordering rules need to be clear, such as priority fees or venue rules, to avoid MEV and achieve fair pricing based on time priority. Additionally, privacy must be implemented through cryptography before execution, concealing intent until final inclusion, allowing the market to be auditable without real-time previews of unexecuted orders.