Validators process transactions and receive fees from users (supply-side fees).

Algorand is a smart contract platform for decentralized applications (a blockchain). Algorand was founded by Silvio Micali and launched in 2018.

ALGO holders own and govern the protocol. They currently take a cut of the transaction fees paid by users (revenue). Algorand's investors include Union Square Ventures, Multicoin Capital, Pillar, etc.

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Algorand

# Algorand Number of validators Methodology

## 1. Overview

Number of validators measures the number of active nodes that produce blocks and secure the network. The degree of decentralization and resilience of the blockchain is reflected by this metric. For Algorand, active validators are identified through consensus participation registrations. Accounts with valid, active participation windows are quantified daily to represent the network's security providers.

## 2. Data sources

- **Blockchain events**: Key registration (`keyreg`) transactions and inner transactions, as well as block round data, covering Algorand

## 3. Step-by-step calculation

### Component A: Key registration extraction and deduplication

- **Purpose**: Extract and clean key registration transactions to identify consensus participation attempts
- **Logic**: Key registration (`keyreg`) transactions are parsed from both outer transactions and inner transactions. Fields including the sender account, block round, timestamp, voting key, selection key, first valid round, last valid round, and non-participation status are extracted. Duplicate registrations for the same account, round, and validity range are removed, keeping only the earliest transaction by timestamp.
- **Key fields**: `sender`, `block_number`, `block_timestamp`, `keyreg_vote_key`, `keyreg_selection_key`, `keyreg_vote_first`, `keyreg_vote_last`, `keyreg_nonparticipation`

### Component B: Consensus status classification

- **Purpose**: Classify key registrations as online or offline to determine active participation
- **Logic**: Each deduplicated registration is classified as online if it contains valid voting and selection keys, has an explicit participation status (where non-participation is false), and contains non-zero first and last valid rounds. Registrations failing these criteria are classified as offline, which serve to terminate any preceding active participation windows for the account.
- **Key fields**: `keyreg_vote_key`, `keyreg_selection_key`, `keyreg_nonparticipation`, `keyreg_vote_first`, `keyreg_vote_last`

### Component C: Participation window construction

- **Purpose**: Define the specific block round ranges during which an account is actively participating in consensus
- **Logic**: For each online registration, the next key registration round for the same account is identified. The active participation window is constructed to start at the first valid round and end at the minimum of the last valid round or the round immediately preceding the next key registration round. Only windows where the start round is less than or equal to the end round are retained.
- **Key fields**: `vote_first_valid`, `vote_last_valid`, `next_keyreg_round`

### Component D: Daily round mapping and validator aggregation

- **Purpose**: Map block rounds to calendar days and calculate the daily count of unique active validators
- **Logic**: Block data is aggregated daily to determine the minimum and maximum block rounds produced on each calendar day. Active validator accounts are identified by matching participation windows with the daily round ranges; an account is considered active on a given day if its participation window overlaps with that day's round range. The final daily metric is calculated by taking the distinct count of these active accounts.
- **Key fields**: `block_date`, `number` (block round), `account`

*This methodology was automatically generated by Token Terminal's methodology analyzer.*

Number of active validators securing the network.

AlgorandALGO

Number of validators

Number of validators

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