# Near Protocol Transaction count Methodology

## 1. Overview

Transaction count measures the number of confirmed transactions added to the blockchain. It reflects how actively users engage with the network and serves as a primary indicator of on-chain activity. This metric captures all unique transactions processed and recorded by Near Protocol.

## 2. Data sources

- **Blockchain events**: Confirmed transactions recorded on Near Protocol
- **External data**: Asset metadata for protocol-level identification

## 3. Step-by-step calculation

### Component A: Transaction record extraction

- **Purpose**: Retrieve raw transaction data from the Near Protocol data lake.
- **Logic**: Transaction records are extracted from the core protocol data. For each record, the transaction hash, block timestamp, signer account (from address), and receiver account (to address) are parsed. This extraction focuses on the top-level transactions initiated on the network.
- **Key fields**: `transaction_hash` (unique identifier), `block_timestamp` (timing), `signer_account_id` (sender), and `receiver_account_id` (recipient).

### Component B: Unique transaction aggregation

- **Purpose**: Calculate the total volume of activity on a daily basis.
- **Logic**: Transactions are aggregated by truncating block timestamps to daily granularity (UTC). A distinct count of transaction hashes is performed to ensure that each confirmed transaction is counted exactly once, regardless of the number of internal receipts or actions it may contain.
- **Key fields**: `transaction_hash` and `block_timestamp`.

### Component C: Metric finalization and validation

- **Purpose**: Ensure data continuity and alignment with platform standards.
- **Logic**: The daily aggregates are mapped to the Near Protocol product identifier. A zero-filling strategy is applied to the time series to ensure that days with no activity are explicitly recorded as zero. Finally, the data is filtered based on the verified availability of the blockchain data to ensure reporting accuracy.
- **Key fields**: `transaction_count`, `timestamp`, and `product_id`.

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

Confirmed transactions added to the blockchain.

Transaction count

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.