What Is the Primary Function of a TXID?
The Transaction ID (TXID) is a unique identifier for every transaction on the blockchain. It is a hash of the transaction data and is used to track and reference a specific transaction.
It serves as a receipt and a key reference for nodes and users.
Glossar
TXID
Identifier ⎊ A TXID, or transaction identifier, is a unique alphanumeric string that identifies a specific transaction on a blockchain network.
Unique Identifier
Address ⎊ In the cryptocurrency context, this is the public string derived from a public key, serving as the destination for transfers and the reference point for on-chain activity.
Block Header
Genesis ⎊ A block header, fundamentally, encapsulates metadata pertaining to a specific block within a blockchain; it serves as the block’s identifying signature and is critical for maintaining chain integrity.
Transaction Data
Provenance ⎊ Transaction data, within cryptocurrency, options, and derivatives, establishes a verifiable audit trail detailing the origin and custody of digital assets, crucial for regulatory compliance and risk mitigation.
Hash
Cryptography ⎊ A hash function, central to blockchain technology, generates a fixed-size output from variable-length input data, ensuring data integrity within cryptocurrency systems.
Transaction ID (TXID)
Provenance ⎊ A Transaction ID (TXID) represents a unique alphanumeric string functioning as a cryptographic hash, definitively identifying each transaction within a blockchain network, ensuring immutable record-keeping and facilitating auditability.