What is Transaction ID in Cryptocurrency ?
Today, we’re going to Discuss about What is Transaction ID in Cryptocurrency ? the unique ID which we get at the time of sending funds.
What Is A Transaction ID ?
A transaction ID (TXID), or transaction hash, can be thought of as an identification number that labels each transaction on the blockchain. It is a unique string of characters that can be verified and added to the blockchain.
When a transaction gets added to the blockchain, it’s assigned a unique transaction ID. The transaction ID is generated by applying a hash function to the transaction details, including the sender’s address, the receiver’s address, and the amount of cryptocurrency being sent.
Depending on the blockchain used, you may be able to find a transaction on Block Explorer by searching for the transaction ID. There are many block explorers available with different features and services. Transaction IDs are useful for transaction verification, record keeping, and troubleshooting.
