A transaction hash, also known as a transaction ID or TXID, is a unique alphanumeric identifier generated for each transaction conducted on a blockchain network. This hash serves as a digital fingerprint for the transaction, uniquely identifying it within the blockchain's immutable ledger. The transaction hash is created through cryptographic hashing algorithms, which convert the transaction's input data into a fixed-length string of characters. This process ensures that even minor changes to the transaction data result in a completely different hash value, making the hash an effective method for verifying the integrity and authenticity of transactions. Transaction hashes are crucial for tracking and confirming transactions on the blockchain, allowing users to verify transaction details, monitor transaction status, and explore transaction history using blockchain explorers. Additionally, transaction hashes are commonly used for auditing, dispute resolution, and as references in smart contracts and decentralized applications (DApps) built on the blockchain.
