A method for providing efficient processing for many concurrent streams of sequential I/O requests is provided. In response to receiving an I/O request, the method includes determining if the I/O request corresponds to an active stream. If the request corresponds to an active stream, then the method includes updating an existing active list entry of an active list corresponding to the active stream, and if the I/O request does not correspond to an active stream, then instead converting and configuring an inactive list entry of an inactive list into a new active list entry. The inactive list stores available but unallocated resources, and the active list stores allocated resources. The active list includes a head at one end of the active list and a tail at an opposite end. The active list head corresponds to a most recently used entry, and the tail corresponds to a least recently used entry.