Mid Level Reading
28 Aug, 2023

Transaction ID (TXID)

A transaction ID (TXID) is a unique identifier assigned to each individual blockchain transaction.

What Is a Transaction ID (TXID)?

A transaction ID (TXID) is a unique identifier assigned to each blockchain transaction.

It is also referred to as a transaction hash and is represented by a combination of letters and numbers.

The TXID is derived from the double SHA-256 hash of a transaction, ensuring its uniqueness.

The TXID allows you to access transaction information such as the amount sent, transfer date, sender and receiver addresses, and the number of confirmations on a block explorer.

When you sign a transaction, you sign the transaction ID (TXID), and any changes to the transaction would result in a different TXID, rendering the signature invalid.

It’s worth noting that the TXID may not necessarily be a hash of the entire transaction, as signatures can be changed after creation without invalidating them.

However, the issue of transaction malleability was addressed with the SegWit update in Bitcoin.

How Do I Find My Transaction ID (TXID)?

You can easily find the TXID of a transaction by following these steps:

  1. Open a block explorer
  2. Sign in with your wallet ID.
  3. In the list of executed transactions, locate the transaction you’re interested in and click on the corresponding transaction ID.
  4. You will then see the Transaction ID (TXID) and all the transaction details.

How Do I Create a TXID?

To create a transaction ID (TXID), you generate a hash of the transaction data by applying the SHA-256 hash function twice.

Is It Safe to Share the Transaction ID?

Sharing the transaction ID (TXID) is safe as it does not disclose any personal information.

On public blockchains, the information displayed typically includes the amount transferred, the transfer date, and sender and recipient wallet addresses.

How Does a Transaction ID (TXID) Look Like?

A transaction ID (TXID) is a unique alphanumeric string of random letters and numbers.

What Do You Do With the Transaction Hash?

You can use the transaction hash (TXID) to look up your transaction on a block explorer.

Simply copy and paste the TXID to search for information about the transaction, including the date, amount, and sender and receiver addresses.

You can also share the transaction information with others.

Is Signature a TXID?

In Ethereum and other EVM-compatible blockchains, the terms “signature,” “transaction ID” (TXID), and “transaction hash” (TX hash) are used interchangeably.

However, on the Solana blockchain, the equivalent term for the transaction ID is known as the “signature.”