What is a txid in the crypto world?

3 answers

• Jan 12, 2022 · 3 years ago
  A txid, short for transaction ID, is a unique identifier that is assigned to each transaction that occurs on a blockchain. It is like a digital fingerprint that allows you to track and verify transactions. When you make a transaction, it is assigned a txid, which can be used to look up the details of the transaction on the blockchain explorer. It is an important piece of information for anyone involved in cryptocurrencies, as it helps ensure the transparency and security of transactions.
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• Jan 12, 2022 · 3 years ago
  In the crypto world, a txid is like a receipt for a transaction. It is a long string of letters and numbers that represents a specific transaction on the blockchain. Think of it as a unique order number for your transaction. You can use the txid to check the status of your transaction or to prove that a transaction has taken place. It's an essential part of the blockchain technology that powers cryptocurrencies.
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• Jan 12, 2022 · 3 years ago
  A txid, or transaction ID, is a unique identifier that is generated for each transaction on a blockchain. It serves as a proof of transaction and can be used to trace the flow of funds. For example, if you want to verify that a payment has been made, you can search for the txid on a blockchain explorer and see the details of the transaction, including the sender, recipient, and amount. It's an important concept to understand in the crypto world, as it helps ensure the integrity and transparency of transactions.
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