# Near Protocol Block time Methodology

## 1. Overview

Near Protocol block time measures the average duration between the addition of successive blocks to the blockchain. This metric serves as a key indicator of network latency and the speed at which transactions are processed and state updates are finalized. Calculations are performed by analyzing the temporal distance between sequential block heights.

## 2. Data sources

- **Blockchain events**: Block timestamps and heights extracted from `block_chunks` on Near Protocol

## 3. Step-by-step calculation

### Component A: Block metadata extraction

- **Purpose**: To establish a chronological record of network activity.
- **Logic**: Block timestamps and block heights are extracted from the underlying network data. The genesis block, identified by a block height of zero, is explicitly excluded to prevent skewed intervals resulting from the transition from the Unix epoch.
- **Key fields**: `block_timestamp` (timing) and `block_number` (sequencing).

### Component B: Interval measurement

- **Purpose**: To determine the specific duration of each block production cycle.
- **Logic**: Blocks are ordered sequentially based on their height. The difference in time between each block and the block immediately preceding it is calculated. These intervals are measured in milliseconds to ensure high-precision tracking of network performance.
- **Key fields**: `previous_timestamp` (the timestamp of the preceding block).

### Component C: Daily aggregation and normalization

- **Purpose**: To generate a representative average of network speed over standard time intervals.
- **Logic**: Individual block intervals are grouped by day according to UTC boundaries. A mathematical average of all block intervals within each 24-hour period is calculated. The final values are validated against active chain records and processed to ensure a continuous time series through gap-filling procedures.
- **Key fields**: `block_time` (averaged interval).

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

avg(block_timestamp - previous_block_timestamp)

Block time

Blockchains (L1)

Validators process transactions and receive validator rewards (supply-side fees).

NEAR Protocol is a smart contract platform for decentralized applications (a blockchain). NEAR Protocol was founded by Alexander Skidanov & Ilya Polosukhin and launched in 2017.

NEAR holders own and govern the protocol. They currently take (burn) all of the total transaction fees paid by users (revenue). NEAR Protocol's investors include a16z, Pantera Capital, Libertus, etc.