OP Mainnet batches users' transactions and submits them to Ethereum, paying a share of the transaction fees to Ethereum validators (expense).

OP Mainnet is an L2 smart contract platform for decentralized applications on Ethereum. OP Mainnet was founded by Jinglan Wang, Karl Floersch & Kevin Ho and launched in 2021.

Optimism team & investors own and govern the protocol. Optimism’s investors include Paradigm, a16z, IDEO CoLab Ventures, etc.

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OP Mainnet

# OP Mainnet Transaction count Methodology

## 1. Overview

The Optimism transaction count metric measures the daily number of unique transactions on the Optimism Layer 2 blockchain. This metric answers the question "How much transaction activity is occurring on Optimism each day?" and provides insights into network usage and adoption. The calculation counts distinct transactions per day, categorized by the destination address (recipient) of each transaction, with additional labeling to identify popular contracts and protocols.

## 2. Data sources

The metric uses two primary data sources:

- **Optimism blockchain transaction records**: Raw transaction data from the Optimism Layer 2 blockchain, containing transaction hashes, block timestamps, sender and recipient addresses, gas usage information, and transaction fees
- **Address labeling database**: External database of labeled Optimism addresses that identifies contracts, protocols, and other notable addresses with human-readable names

## 3. Step-by-step calculation

### Component A: Transaction extraction and processing
- **Purpose**: Extract and standardize all Optimism transaction data for counting
- **Logic**: Pull all transactions from Optimism blockchain records, extracting essential fields including `block_timestamp`, `transaction_hash`, `from_address`, `to_address`, and gas-related information. The system hardcodes the Optimism WETH token address and calculates both L1 and L2 gas fees, though these fee calculations are not used in the final transaction count. All transactions are marked with metadata identifying Optimism as a Layer 2 blockchain in the blockchains market sector.
- **Key fields**: `transaction_hash` for unique identification, `block_timestamp` for daily grouping, `to_address` for destination categorization, `from_address` for sender tracking

### Component B: Daily transaction aggregation
- **Purpose**: Group transactions by day and destination address to count daily activity
- **Logic**: Truncate transaction timestamps to daily boundaries using day-level granularity. Group all transactions by the truncated date and by the `to_address` field. Within each group, count the distinct `transaction_hash` values to ensure each transaction is counted exactly once, avoiding any potential duplicates. This produces daily transaction counts segmented by the recipient address of each transaction.
- **Key fields**: `timestamp` (truncated to daily boundaries), `to_address` for grouping, `transaction_count` as the distinct count of transaction hashes

### Component C: Address labeling and enrichment
- **Purpose**: Add human-readable labels to identify popular contracts and protocols
- **Logic**: Join the aggregated transaction counts with the address labeling database using the `to_address` field. The labeling database contains manually curated mappings of Optimism addresses to protocol names and contract titles. Use a left join to preserve all transaction data, and apply a fallback label of "Unlabeled" for addresses that don't have assigned labels. This categorization helps identify which protocols and contracts are receiving the most transaction activity.
- **Key fields**: `account_address` for joining, `account_title` for labeling, `contract_name` as the final enriched label

### Final aggregation
- **Combining components**: The transaction counts remain grouped by daily timestamp and destination address after label enrichment, maintaining the granular view of where transaction activity is directed each day
- **Currency conversion**: Not applicable for transaction counts - this is a volume metric rather than a value metric
- **Time aggregation**: Data is aggregated to daily boundaries with no gaps, using a fill-zeros strategy to ensure continuous time series data even for days with no transactions
- **Final calculation**: The metric represents the distinct count of transaction hashes per day on Optimism, segmented by destination address and enriched with address labels. The finalization process validates data schema, ensures proper metadata assignment, and fills any missing days with zero values to maintain continuous daily reporting.

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

Confirmed transactions added to the blockchain.

OP MainnetOP

Transaction count

Transaction count

Competitive landscape

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