Users and developers interact with the protocol by writing and deploying confidential smart contracts using Midnight's Compact language and sending private transactions with zero-knowledge proofs.

Midnight is a privacy-first Layer 1 blockchain that blends public verifiability with confidential data handling. It uses zero-knowledge proofs (ZK-SNARKs) and selective disclosure to enable applications that verify correctness without revealing sensitive data. Midnight operates as a partner chain to Cardano and is designed for building confidential smart contracts using its Compact language and the Kachina protocol.

Midnight is developed by Input Output Global (IOG), the company behind Cardano.

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# midnight Transaction count Methodology

## 1. Overview

Transaction count is defined as the number of confirmed transactions added to the midnight blockchain. This metric is utilized to monitor and analyze user engagement and activity levels on the network. All transactions are included in the calculation, matching the cross-chain convention without excluding specific transaction types.

## 2. Data sources

- **Blockchain events**: Transaction and block records extracted from the midnight network, covering midnight

## 3. Step-by-step calculation

### Component A: Block data ingestion and deduplication

- **Purpose**: Clean and prepare block data.
- **Logic**: Block records are ingested from raw storage. To handle duplicate entries from non-idempotent loading processes, records are deduplicated, with only the most recently inserted copy for each unique block identifier being retained. Block timestamps, originally represented in epoch milliseconds, are converted to standard timestamp format.
- **Key fields**: `block_id`, `block_timestamp`, `block_number`

### Component B: Transaction data ingestion and deduplication

- **Purpose**: Clean and prepare transaction data.
- **Logic**: Transaction records are ingested and deduplicated using the same methodology as the block data, where only the most recently inserted record per transaction identifier is retained. Transactions are classified by a variant field, where a distinction is made between `Regular` user transactions and `System` bookkeeping transactions.
- **Key fields**: `transaction_id`, `block_id`, `variant`, `transaction_hash`

### Component C: Transaction enrichment

- **Purpose**: Associate transactions with block timestamps.
- **Logic**: Deduplicated transaction records are joined with deduplicated block records using the block identifier, whereby each transaction is associated with its corresponding block timestamp.
- **Key fields**: `transaction_id`, `block_timestamp`, `variant`

### Component D: Aggregation and finalization

- **Purpose**: Aggregate transaction counts and apply final formatting.
- **Logic**: The distinct count of transaction identifiers is aggregated on a daily basis, with day boundaries defined by UTC. Days with no recorded transactions are assigned a value of zero so that a continuous daily time series is maintained.
- **Key fields**: `transaction_count`, `timestamp`

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

Confirmed transactions added to the blockchain.

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