Co-Spending Heuristics

Co-Spending Heuristics are a core method in blockchain analysis based on the assumption that if multiple inputs are used in a single transaction, they are likely controlled by the same entity. This principle allows analysts to cluster addresses together, even if they have never interacted directly.

Because a user must possess the private keys for all inputs to sign a transaction, the link is cryptographically verified. This heuristic is highly reliable and serves as the backbone for building entity clusters.

It is essential for understanding the distribution of assets across different wallets. By applying this logic, analysts can reconstruct the holdings of complex institutional or individual portfolios.