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.

governance

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etherscan

website

Blockchains (L2)

Celo

# Celo Transaction count Methodology

## 1. Overview

The Celo L1 (legacy) transaction count metric measures the daily number of unique transactions processed on the Celo L1 (legacy) blockchain network. This metric tracks blockchain activity and adoption by counting distinct transactions per day, with special handling for Celo L1 (legacy)'s transition from Layer 1 to Layer 2 infrastructure. The calculation involves aggregating raw transaction data by day and applying temporal classification based on the network's architectural evolution.

## 2. Data sources

- **Celo L1 (legacy) blockchain transaction records**: Raw transaction data from the Celo L1 (legacy) blockchain network containing all transaction details including timestamps, transaction hashes, sender and recipient addresses, gas usage, and fee information
- **Celo L1 (legacy) native token metadata**: Hardcoded reference to the Celo L1 (legacy) native token address (`0x471ece3750da237f93b8e339c536989b8978a438`) used for standardizing fee currency information

## 3. Step-by-step calculation

### Component A: Transaction data standardization
- **Purpose**: Extract and standardize raw transaction data from the Celo L1 (legacy) blockchain
- **Logic**: Raw Celo L1 (legacy) blockchain transaction records are processed to extract key transaction attributes. Data type casting is applied to ensure consistency across timestamp (`block_timestamp`), numeric (`block_number`), and string fields (`transaction_hash`, `from_address`, `to_address`). Gas-related fields including `gas_used`, `gas_price`, and `effective_gas_price` are processed, with the effective gas price being converted from wei to ether units by dividing by 10^18. Fee currency standardization occurs where null fee currency values default to the Celo L1 (legacy) native token address.
- **Key fields**: `block_timestamp`, `transaction_hash`, `from_address`, `to_address`, `gas_used`, `gas_price`, `effective_gas_price`, and `token_address`

### Component B: Temporal classification and aggregation
- **Purpose**: Classify transactions based on Celo L1 (legacy)'s network architecture transition and aggregate by day
- **Logic**: Transactions are classified into two distinct periods based on a March 26, 2025 cutoff date that represents Celo L1 (legacy)'s transition from Layer 1 to Layer 2 infrastructure. Transactions occurring before this date are categorized with `market_sector_id` as 'blockchains_l1' and `product_id` as 'Celo L1 (legacy)'. Transactions from March 26, 2025 onwards are classified with `market_sector_id` as 'blockchains_l2' and `product_id` as 'Celo L1 (legacy) L2'. For each temporal segment, transactions are aggregated by truncating `block_timestamp` to daily boundaries and grouping by date, chain metadata, and recipient address (`to_address`). The distinct count of `transaction_hash` values provides the daily transaction count for each group.
- **Key fields**: `timestamp` (truncated to day), `chain_id`, `market_sector_id`, `product_id`, `to_address`, and `transaction_count`

### Final aggregation
- **Combining components**: The two temporal segments (pre and post March 26, 2025) are combined using union operation to create a complete time series of daily transaction counts that reflects both the L1 and L2 phases of the Celo L1 (legacy) network
- **Currency conversion**: No currency conversion is required as this metric counts transactions rather than monetary values
- **Time aggregation**: Daily boundaries are established by truncating block timestamps to day level, ensuring consistent 24-hour periods for transaction counting
- **Final calculation**: The final metric represents the count of distinct transaction hashes per day, grouped by recipient address and network classification, providing a comprehensive view of daily transaction volume across Celo L1 (legacy)'s network evolution from L1 to L2 architecture

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

Confirmed transactions added to the blockchain.

CeloCELO

Transaction count

Transaction count

Competitive landscape

Chain breakdown