Speed becomes very important when we need to quickly apply in real time. Note the permissioned vs Permissionless distinction here.
Speeding Up Blockchain to Meet Real-World Speeds and Needs
University of Waterloo News
Researchers at the University of Waterloo in Canada are exploring the fundamentals of blockchain technology and how they could be applied to sectors like energy, finance, accounting, and health. The researchers altered the Linux Foundation's open source Hyperledger Fabric project to accelerate the permissioned blockchain system. Permissioned blockchains, unlike their permission-less counterparts, do not require proof of work—like computing cryptographic hashes—which limits transaction processing to only tens of thousands of transactions a second. The current version of Hyperledger Fabric is constrained to about 3,000 transactions a second. Waterloo's Christian Gorenflo said, "We rewrote parts of Fabric's source code using optimization techniques known from traditional database systems such as aggressive caching and efficient data structures to make the blockchain faster." This facilitated a nearly seven-fold boost in Hyperledger Fabric's throughput to 20,000 transactions a second. .... "
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