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

Ethereum is a smart contract platform for decentralized applications (a blockchain). Ethereum was founded by Vitalik Buterin, Anthony Di Iorio, Mihai Alisie, etc. and launched in 2015.

ETH holders own and govern the protocol. They currently take a cut of the total transaction fees (base fee) paid by users (revenue). Ethereum’s investors include KR1, Block Ventures, 8 Decimal Capital, etc.

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Blockchains (L1)

Ethereum

# Ethereum Transaction count Methodology

## 1. Overview

The Ethereum transaction count metric measures the daily number of unique transactions sent to each destination address on the Ethereum blockchain. This metric helps analyze network activity, contract usage patterns, and adoption trends by tracking how many distinct transactions are directed to different addresses each day. The calculation aggregates raw transaction data daily and enriches it with human-readable contract labels to provide meaningful insights into which contracts or addresses are receiving the most transaction volume.

## 2. Data sources

- **Ethereum blockchain transactions**: Raw transaction records from the Ethereum blockchain containing transaction hashes, block timestamps, sender and recipient addresses, gas usage, and pricing information
- **Account labeling database**: External database containing human-readable names and titles for Ethereum contract addresses and accounts, used to identify and label known contracts, protocols, and services

## 3. Step-by-step calculation

### Component A: Transaction data processing
- **Purpose**: Extract and standardize raw Ethereum transaction data for analysis
- **Logic**: Pull all Ethereum blockchain transactions with essential fields including `block_timestamp`, `transaction_hash`, `from_address`, `to_address`, and gas-related fields. Convert gas prices from wei to ETH units by dividing by 10^18. Add business metadata including market sector as 'blockchains_l1' and business segment as 'blockchain'. Filter to incremental data based on partition dates when processing updates.
- **Key fields**: `transaction_hash` for unique identification, `block_timestamp` for temporal analysis, `to_address` for destination tracking, `effective_gas_price` and `blob_gas_price` converted to ETH units

### Component B: Daily transaction aggregation  
- **Purpose**: Count unique daily transactions grouped by destination address
- **Logic**: Aggregate processed transaction data by truncating timestamps to daily boundaries. Group by day, destination address (`to_address`), and business metadata fields. Count distinct `transaction_hash` values to ensure each transaction is counted only once regardless of internal transaction traces or logs. This produces daily transaction counts for each unique destination address.
- **Key fields**: `timestamp` truncated to day grain, `to_address` as grouping key, `transaction_count` as distinct count of transaction hashes

### Component C: Label enrichment
- **Purpose**: Add human-readable names to destination addresses using external labels
- **Logic**: Join the daily aggregated transaction counts with account labels using `to_address` as the join key. Use a left join to preserve all transaction data even for unlabeled addresses. Apply 'Unlabeled' as the default `contract_name` for addresses without labels in the labeling database. This enrichment helps identify which known contracts, protocols, or services are receiving transactions.
- **Key fields**: `contract_name` derived from account labels or defaulted to 'Unlabeled', preserving all transaction count data from previous step

### Final aggregation
- **Combining components**: The three components flow sequentially - raw transaction processing feeds into daily aggregation, which feeds into label enrichment. No additional joining or summing occurs at the final step.
- **Currency conversion**: Gas prices are converted from wei to ETH units during initial processing, but the primary metric (transaction count) does not require currency conversion as it measures transaction volume, not value
- **Time aggregation**: Timestamps are truncated to daily boundaries using day-level granularity, creating consistent daily metrics across all calculations
- **Final calculation**: The final metric value is the count of distinct transaction hashes per day per destination address, enriched with contract labels and standardized through schema validation and gap-filling processes

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

Confirmed transactions added to the blockchain.

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Transaction count

Transaction count

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