I don't think relocations are necessary at all. Within one system each file has a fixed place. Relocation and resolving happens only when files are copied acros

I don't think relocations are necessary at all. Within one system each file has a fixed place. Relocation and resolving happens only when files are copied across systems, where serialization should happen anyway. So e.g. once you receive a binary from the network, you resolve it and place it somewhere in the 64-bit space and then just execute it from there every time. The inode number becomes the file's physical address essentially. Base+offset segmentation does have an overhead since you'd need some extra CPU registers for that if I understand it correctly.