It’s nothing for even an ancient CPU - let alone our modern marvels that make a Cray 1 cry.
The key is an extremely well-thought and tested design.
It was fast on an 4.77Mhz IBM PC, and much faster on a 10Mhz V20.
50,000 transactions was pretty standard for a IBM Mainframe, now? The z/ Series is still about the same, but it scales up to 32 processors. ( excuse me, billions. per day )
People don't do it because it's not fashionable (the cool kids are all on AWS with hundreds of containers, hosting thousands micro services, because that's web scale).
But yes, you don’t always need cool technologies.
> But yes, you don’t always need cool technologies.
That's kinda the irony mainframes are incredibly cool piece's of tech, just not fashionable. They have insane consistency guarantee at the instruction level. Hot swapping features etc. Features you'd struggle to replicate with the dumpster fire that is modern microservice based cloud computing.
(For the pedantic, it's not exactly centralized nor federated since each airline treats their view of the world as absolutely correct)
It probably doesn’t require consensus among all participants (pairwise consensus at every step should be fine), so there is very likely no voting.
It’s not even permissionless. It’s not like a random company could join this “chain” simply because they can generate a keypair.
It’s a fundamentally different problem, and it makes sense that the architecture is different.