<ul data-eligibleForWebStory="true"><li>Wallet clustering is a key concept in analyzing the Bitcoin transaction graph.</li><li>Transactions consist of inputs and outputs, linking coins to identify entities.</li><li>The Bitcoin white paper emphasizes using a new key pair for each transaction to prevent linking.</li><li>Common input ownership heuristic reveals ownership when the same entity controls multiple coins.</li><li>Sophisticated clustering methods have evolved over the years to improve accuracy.</li><li>Commercial tools use various sources of information, including KYC data.</li><li>The focus is on defending privacy against deanonymization attacks.</li><li>Collaborative transaction construction methods like CoinJoin and PayJoin help enhance privacy.</li><li>Different adversaries have varying capabilities, shaping users' threat models.</li><li>Wallet clustering basics are crucial for understanding Bitcoin transaction privacy.</li><li>The article was originally published on the Spiral Substack and written by Yuval Kogman.</li></ul>

The Spiral Scroll: Wallet Clustering Basics

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