What Is Transaction ID

Customer Specialist Team
Updated

About Transaction ID

A Transaction ID (TXID), also known as Transaction Hash, is a unique cryptographic identifier​ generated for each transaction on the blockchain. It is created by applying a hash function to transaction details (including sender address, recipient address, transaction amount, timestamp, etc.), serving as proof of cryptocurrency transactions. The TXID can be used to confirm, verify, and track transaction status.

 

Characteristics of TXID

1. Uniqueness: Each TXID is unique, ensuring no duplicate transactions.

2. ​Immutability: Once generated, it cannot be altered - any data modification in the blockchain would result in a completely different hash value.

3. Verifiability: Anyone can query the transaction's status and details using the TXID on a blockchain explorer, providing transparency and traceability.

4. ​Standardized Format: TXIDs are typically alphanumeric and vary in length and structure depending on the system (e.g., payment transaction IDs may be 12 - 18 characters long, while blockchain transaction hashes may be 64 characters).

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