A computer-implemented method for monitoring transactions in a distributed computing environment, comprising: - receiving, by a topology processor, topology data from one or more agents, where the topology data describes computing resources comprising the distributed computing environment and the one or more agents are instrumented in the computing resources; - constructing, by the topology processor, a topology model using the topology data, where the topology model includes topology entities which collectively describe a network topology of the computing resources; - receiving, by the topology processor, additional topology data from one or more agents, where the additional topology data describes mapping for one or more network endpoints; - constructing, by the topology processor, the topology model using the additional topology data; - receiving, by an inference processor, transaction trace data captured by a given agent, where the transaction trace data identifies a given transaction being executed between a sender application and a receiver application and includes a performance metric for the given transaction; - identifying, by the inference processor, a particular computing resource which executes at least a portion of the given transaction; - determining, by the inference processor, presence of a given topology entity in the topology model, where the given topology entity corresponds to the particular computing resource; - updating, by the inference processor, the topology model with information for the given topology entity, where updating occurs in response to a determination that the given topology entity is absent from the topology model; and - updating, by the inference processor, the transaction trace data with identification data for the given topology entity in the topology model. - receiving, by a topology processor, topology data from one or more agents, where the topology data describes computing resources comprising the distributed computing environment and the one or more agents are instrumented in the computing resources; - constructing, by the topology processor, a topology model using the topology data, where the topology model includes topology entities which collectively describe a network topology of the computing resources; - receiving, by the topology processor, additional topology data from one or more agents, where the additional topology data describes mapping for one or more network endpoints; - constructing, by the topology processor, the topology model using the additional topology data; - receiving, by an inference processor, transaction trace data captured by a given agent, where the transaction trace data identifies a given transaction being executed between a sender application and a receiver application and includes a performance metric for the given transaction; - identifying, by the inference processor, a particular computing resource which executes at least a portion of the given transaction; - determining, by the inference processor, presence of a given topology entity in the topology model, where the given topology entity corresponds to the particular computing resource; - updating, by the inference processor, the topology model with information for the given topology entity, where updating occurs in response to a determination that the given topology entity is absent from the topology model; and - updating, by the inference processor, the transaction trace data with identification data for the given topology entity in the topology model.