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

Terra is a smart contract platform for decentralized applications (a blockchain). Terra was founded by Daniel Shin and Do Kwon and launched in 2018. Terra Classic's stablecoin UST collapsed in 2022 due to a cryptocurrency equivalent of a bank run. Terra was forked shortly after, leading to the current Terra and its predecessor Terra Classic. This dashboard tracks the new Terra blockchain.

LUNA holders own and govern the protocol. They take a cut of the total transaction fees paid by users (revenue) that is then rewarded to contract owners (cost of revenue). Terra’s investors include Coinbase Ventures, Galaxy Digital, Pantera Capital, etc.

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Terra

# Terra Block time Methodology

## 1. Overview

Block time measures the average time between consecutive blocks on the Terra blockchain, expressed in milliseconds and aggregated to daily averages. This metric indicates the efficiency and performance of the Terra network's block production mechanism. The calculation identifies consecutive blocks, measures the time differences between their timestamps, and averages these intervals by day to provide a daily block time metric.

## 2. Data sources

The calculation uses the following raw data sources:
- **Terra blockchain data**: Raw block-level data from the Terra blockchain containing block timestamps and block heights for all produced blocks
- **Chain availability configuration**: Configuration data that determines periods when Terra blockchain data is considered reliable and complete for metric calculations

## 3. Step-by-step calculation

### Component A: Block data extraction
- **Purpose**: Extract and prepare Terra blockchain block information for time difference calculations
- **Logic**: The calculation begins by selecting block timestamps and heights from Terra blockchain data, filtering out the genesis block (blocks with height greater than 0). For incremental updates, only blocks from recent days are processed based on the incremental lookback period to optimize processing time.
- **Key fields**: `block_timestamp` contains the precise timestamp when each block was produced, and `block_number` (derived from `block_height`) provides the sequential block identifier

### Component B: Consecutive block pairing
- **Purpose**: Pair each block with its immediate predecessor to enable time difference calculations
- **Logic**: Using a LAG window function ordered by block number, each block is paired with the timestamp and number of the previous block in the sequence. This creates pairs of consecutive blocks needed for calculating the time intervals between block productions.
- **Key fields**: `previous_timestamp` and `previous_block_number` contain the timestamp and height of the preceding block for each current block

### Component C: Block time calculation
- **Purpose**: Calculate the actual time intervals between consecutive blocks
- **Logic**: Time differences are calculated in milliseconds between each block and its predecessor using timestamp difference functions. The calculation includes validation to ensure only truly consecutive blocks are used (current block number minus previous block number equals exactly 1), which handles potential gaps or missing blocks in the sequence. Block timestamps are truncated to day level to prepare for daily aggregation.
- **Key fields**: `block_time` contains the millisecond difference between consecutive block timestamps, and `timestamp` provides the day-level timestamp for grouping

### Final aggregation
- **Combining components**: Block time intervals are grouped by day and averaged to produce a single daily block time metric
- **Currency conversion**: No currency conversion is required as block time is measured in milliseconds
- **Time aggregation**: Daily boundaries are determined by truncating block timestamps to day precision, and all block times within each day are averaged together
- **Final calculation**: The final metric represents the average time in milliseconds between consecutive blocks for each day. The finalize metric macro applies a 'fill zeros' strategy for any missing days, and chain availability filtering removes periods when Terra data might be unreliable or incomplete. The result includes standard metric metadata identifying Terra as a Layer 1 blockchain in the blockchains market sector.

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

avg(block_timestamp - previous_block_timestamp)

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Block time

Block time

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