High
accuracy of major biological processes relies on the ability
of the participating enzymatic molecules to preferentially select
the correct substrate from a pool of chemically similar substrates
by activating the so-called proofreading mechanisms. While the importance
of such mechanisms is widely accepted, it is still unclear how evolution
has optimized the biological systems with respect to certain characteristic
properties. Here, using a discrete-state stochastic framework with
a first-passage analysis, we theoretically investigate trade-offs
between four characteristic properties of enzymatic systems, namely,
error, speed, noise, and energy dissipation. Specifically, two fundamental
biological processes are examined, i.e., DNA replication in the T7
bacteriophage and tRNA selection during protein translation in Escherichia coli. Notably, all of the characteristic
properties cannot be completely optimized at the same time due to
trade-offs between them. To understand the relative importance of
the computed quantities to the enzymatic functionality, we introduce
a new quantitative metric to rank the properties. The results demonstrate
that the reaction speed is the principal characteristic property that
evolution optimizes in both enzymatic systems and that the energy
dissipation comes in second. In addition, the error and the noise
are always ranked third and fourth, respectively, regardless of the
system considered. Physicochemical arguments to explain these observations
are presented.