Heuristic-Based Address Clustering in Cardano Blockchain

This research focuses on blockchain technology, which is a way to store data securely while keeping users' identities private. However, this privacy feature makes it challenging to analyze the data in the blockchain. To solve this problem, the researchers developed new methods to group together all the addresses controlled by the same person or organization in the Cardano blockchain. They used smart algorithms to efficiently organize the payment addresses that appeared on the Cardano blockchain between September 2017 and January 2023. The results showed that, on average, each person or organization in the Cardano network owns and controls about 9.67 payment addresses. The study also found a specific pattern called a power law distribution, which means that there are a few people or organizations in the Cardano network who have a lot of payment addresses, while most others have fewer addresses.