Base batches users' transactions and submits them to Ethereum, paying a share of the transaction fees to Ethereum validators (expense).

Base is an Ethereum Layer 2 (L2) offering a secure, low-cost, builder-friendly way for anyone, anywhere, to build onchain.

Coinbase team owns and governs the protocol. Coinbase is a public company and its investors include Andreessen Horowitz, Vanguard Group, ARK Investment Management, etc.

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Blockchains (L2)

Base

# Base Transaction count Methodology

## 1. Overview

The transaction count metric measures the daily number of unique transactions on the Base blockchain, grouped by recipient address. This metric provides insights into blockchain activity patterns and network utilization by tracking how many distinct transactions are sent to each address on a daily basis. The calculation uses approximate distinct counting for performance optimization when processing large transaction volumes.

## 2. Data sources

- **Base blockchain transaction records**: Raw transaction data including transaction hashes, timestamps, sender and recipient addresses, gas usage metrics, and pricing information
- **Base blockchain block data**: Block timestamps used to determine daily boundaries for aggregation
- **Transaction metadata**: Gas consumption data, Layer 1 fee parameters, and gas pricing information for context

## 3. Step-by-step calculation

### Component A: Raw transaction processing
- **Purpose**: Extract and standardize Base blockchain transaction data for daily aggregation
- **Logic**: Raw Base transaction records are processed to extract key fields including `block_timestamp`, `transaction_hash`, `from_address`, `to_address`, and gas-related metrics. Block timestamps are converted to timestamp format and transaction hashes are cast to string format for consistent processing. The model adds standardized chain metadata including 'base' as `chain_id`, 'blockchains_l2' as `market_sector_id`, and 'blockchain' as `business_segment_id`. Gas usage data including `receipt_gas_used`, `receipt_l1_gas_used`, `receipt_l1_gas_price`, and `receipt_l1_fee_scalar` are preserved as numeric values. The model references Ethereum WETH token address and symbol for gas pricing context.
- **Key fields**: `block_timestamp` for timing, `transaction_hash` for uniqueness, `to_address` for grouping, gas metrics for context

### Component B: Daily transaction aggregation  
- **Purpose**: Count unique transactions per day and recipient address using approximate distinct counting
- **Logic**: Transaction data is grouped by daily time boundaries created by truncating `block_timestamp` to day granularity. Transactions are further grouped by `to_address` to track activity by recipient. Within each group, approximate distinct counts of `transaction_hash` values are calculated using `approx_count_distinct` for performance optimization with large datasets. The aggregation includes standardized metadata fields including timestamp grain set to 'day', and nullified `product_id` and `contract_name` fields. For incremental updates, only transactions from recent days are processed based on the maximum partition date minus a configurable lookback period.
- **Key fields**: `timestamp` (daily), `transaction_count` (approximate distinct hashes), `to_address` (grouping key)

### Final aggregation
- **Combining components**: The daily transaction counts are passed through the finalize metric transaction count macro which validates the data schema, ensures proper ID formatting, and handles data quality requirements
- **Gap filling**: Missing days are filled with zero transaction counts using the 'fill_zeros' strategy to maintain complete daily time series
- **Data validation**: Chain availability filtering is applied to ensure data completeness and quality, filtering out periods where Base blockchain data may be incomplete or unreliable
- **Final calculation**: The result is daily transaction counts grouped by recipient address, representing the number of unique transactions received by each address on the Base blockchain per day, with gaps filled as zeros and data quality validations applied

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

Confirmed transactions added to the blockchain.

Base

Transaction count

Transaction count

Competitive landscape

Chain breakdown