# Chainflip Chain Transaction count Methodology

## 1. Overview

Transaction count measures the number of confirmed transactions added to the blockchain. How actively users engage with the network is reflected by this metric. The operational demand and utilization of Chainflip Chain are evaluated over time by tracking the volume of successful state transitions.

## 2. Data sources

- **Blockchain events**: Extrinsics from Chainflip Chain, covering Chainflip Chain

## 3. Step-by-step calculation

### Component A: Extrinsic extraction

- **Purpose**: Extract individual transaction records from the ledger
- **Logic**: Extrinsics are extracted from the block data of Chainflip Chain. Each record is parsed to retrieve the block timestamp and the unique extrinsic identifier.
- **Key fields**: `timestamp` (timing of the block), `id` (unique identifier of the extrinsic)

### Component B: Daily aggregation and deduplication

- **Purpose**: Aggregate the unique transactions on a daily basis
- **Logic**: The unique extrinsic identifiers are grouped by day using UTC boundaries. A distinct count of these identifiers is calculated for each day to determine the daily transaction volume. Missing days in the time series are filled with zeros to ensure data continuity.
- **Key fields**: `timestamp` (daily truncated date), `transaction_count` (sum of distinct transaction identifiers)

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

Confirmed transactions added to the blockchain.

Transaction count

Blockchains (L1)

Chainflip operates a decentralized network of 150 validators that collectively control multi-chain vaults using threshold signature schemes (TSS). The protocol uses a Just-In-Time (JIT) AMM where liquidity providers compete to fill swap orders at the moment of execution, enabling capital-efficient cross-chain swaps. A portion of each swap fee is used to buy and burn FLIP tokens.

Chainflip is a decentralized cross-chain swap protocol that enables native asset exchanges across blockchains including Bitcoin, Ethereum, and Solana without wrapped tokens or traditional bridges. It was launched in 2023 by Chainflip Labs and uses a JIT AMM model combined with MPC-based vault technology to provide competitive pricing on cross-chain trades.

Chainflip is governed by its validator set and FLIP tokenholders. Validators stake FLIP to participate in the network and earn fees from swaps. The protocol is developed and maintained by Chainflip Labs.

Chainflip Chain

Transaction count

Transaction count

Chain breakdown