Understanding Transaction ID (TXID): Your Blockchain Transaction Tracker

Why You Need to Know About Transaction ID

Ever sent crypto and wondered how to prove it actually went through? That’s where transaction ID comes in. A TXID is essentially your proof of transaction—a unique digital fingerprint that identifies each transaction on the blockchain. Think of it as a receipt that proves your money moved from point A to point B, and it’s permanently recorded for anyone to verify.

Whether you’re troubleshooting a stuck withdrawal, verifying a payment arrived, or simply keeping records, understanding how to find and use your transaction ID is fundamental for anyone actively trading or moving cryptocurrencies.

What Exactly Is A Transaction ID?

A transaction ID (also called a transaction hash) is a unique identifier generated when a transaction is recorded on the blockchain. The system creates this ID by running the transaction details—sender address, receiver address, and amount—through a cryptographic hash function.

Each TXID is a 64-character hexadecimal string that serves as an unchangeable record of that specific transaction. Once on the blockchain, the transaction ID becomes part of the permanent ledger, making it impossible to alter or dispute. This immutability is what makes TXID verification so powerful: anyone can pull up the transaction details using the ID to confirm the transaction actually happened.

How Is A Transaction ID Generated?

The process behind generating a TXID relies on cryptographic mathematics. Bitcoin, for instance, uses the SHA-256 (Secure Hash Algorithm 256-bit) hash function to create transaction IDs. This algorithm takes all the transaction data as input and produces a 256-bit output—represented as that 64-character hexadecimal string you see.

The beauty of this system is its determinism: the exact same transaction data will always produce the exact same hash. Change even one tiny detail of the transaction, and the resulting hash becomes completely different. This property ensures that every transaction is uniquely identifiable and tamper-evident.

Real-World Examples: Famous Bitcoin Transaction IDs

The Genesis Transaction: Bitcoin’s very first transaction, sent by Satoshi Nakamoto to Hal Finney in 2009, has the TXID: