Transaction ID (TXID)

Every transaction that is confirmed and added to the blockchain is assigned a transaction ID (TXID), also known as a transaction hash. To put it another way, a TXID is a code that marks each transaction on the blockchain.

A transaction is given a transaction ID as a unique identifier when it is created and uploaded to the blockchain. The transaction ID can then be used to locate it in a block explorer, depending on the type of blockchain being utilized.

Basic transaction details, like the amount, the transfer date, the sending and receiving addresses, and the number of network confirmations the transaction has received, can all be verified using this.

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