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

Celo is a smart contract platform for decentralized applications (a blockchain). Celo was founded by Rene Reinsberg and Marek Olszewski and launched in 2020.

CELO holders own and govern the protocol. They currently take a cut of the total transaction fees paid by users (revenue). Celo's investors include a16z, Greenfield, Electric Capital, etc.

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Celo

# Celo Block time Methodology

## 1. Overview

The Celo L1 (legacy) block time metric measures the average time interval between consecutive blocks on the Celo L1 (legacy) blockchain, aggregated daily. This metric indicates the blockchain's block production speed and network performance consistency. Block time is calculated by measuring the timestamp differences between consecutive blocks and averaging these intervals across each day.

## 2. Data sources

- **Celo L1 (legacy) blockchain block headers**: Raw block data from Celo L1 (legacy) blockchain nodes containing block timestamps, block numbers, and other block metadata
- **Block sequence data**: Sequential ordering information that ensures proper chronological analysis of block production
- **Node timestamp data**: Precise timestamps recorded by Celo L1 (legacy) nodes when each block was produced and added to the blockchain

## 3. Step-by-step calculation

### Component A: Raw block data extraction
- **Purpose**: Retrieves fundamental block information from the Celo L1 (legacy) blockchain
- **Logic**: Extracts block timestamps and block numbers from Celo L1 (legacy) blockchain block headers. Excludes the genesis block (block number 0) because it contains an invalid timestamp set to the Unix epoch start time rather than actual block production time. Applies incremental processing logic to only process new blocks when updating the metric.
- **Key fields**: `block_timestamp` (when the block was produced), `block_number` (sequential block identifier), `chain_id` (set to 'Celo L1 (legacy)'), `market_sector_id` (set to 'blockchains_l1')

### Component B: Block sequence preparation  
- **Purpose**: Prepares consecutive block pairs for time interval calculation
- **Logic**: Uses a LAG window function ordered by block number to associate each block with the timestamp of the immediately preceding block. This creates pairs of consecutive blocks needed to calculate time intervals.
- **Key fields**: `block_timestamp` (current block time), `previous_timestamp` (previous block time via LAG function), maintains block number and metadata fields

### Component C: Block time interval calculation
- **Purpose**: Calculates the time difference between consecutive blocks
- **Logic**: Computes the millisecond difference between each block timestamp and its previous block timestamp. Filters out records where the previous timestamp is null (first block has no predecessor). Truncates block timestamps to day boundaries to enable daily aggregation.
- **Key fields**: `timestamp` (truncated to day), `block_time` (milliseconds between consecutive blocks), `timestamp_grain` (set to 'day')

### Component D: Daily block time aggregation
- **Purpose**: Calculates average block times for each calendar day
- **Logic**: Groups block time intervals by day and calculates the arithmetic mean of all block times within each day. This provides the average time between blocks for each calendar day on the Celo L1 (legacy) network.
- **Key fields**: `timestamp` (day), `block_time` (average milliseconds per block for that day), includes metadata fields for chain identification and business classification

### Final aggregation
- **Combining components**: The daily averages flow through a standardization macro that applies consistent formatting and metadata
- **Currency conversion**: Not applicable - block times are measured in milliseconds
- **Time aggregation**: Block times are aggregated using arithmetic mean within daily boundaries, with days defined by UTC calendar dates
- **Final calculation**: The final metric represents the average number of milliseconds between consecutive block productions on the Celo L1 (legacy) blockchain for each calendar day, with a fill-zeros strategy applied for any missing days to ensure complete time series data

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

avg(block_timestamp - previous_block_timestamp)

CeloCELO

Block time

Block time

Competitive landscape

Chain breakdown