The computational capacity of a blockchain. Transaction throughput is commonly calculated by the number of transactions that can be processed per second (TPS). However, TPS is a subjective measure of throughput as transactions can vary in size. Therefore, larger transactions will result in lower TPS, and smaller transactions will lead to higher TPS. An objective measurement of throughput is the number of computational units that can be performed per second.
For example, consider a blockchain that has a limit of 15M computational units per block with a block time of 10 seconds. The objective throughput of the blockchain would be 1.5M units per second. Additionally, throughput can also be used to measure other parameters of a blockchain, such as data capacity.