TXID: Concept and Application

Transaction ID is a hash of the transaction. It is also known as transaction identifier (TxID). It consists of alphanumeric characters and represents the identification number specified for the BTC transaction. Every transaction that takes place on the BTC blockchain has this unique identifier. Similarly, transactions on the Ethereum blockchain will have a unique Tx Hash, and each transaction on the Litecoin blockchain will also have a TxID.

All transactions on the blockchain are publicly available. Once you make a payment or transfer coins to another address, the transaction will be broadcast and a Tx hash ID will be generated. Using ID, the transaction status can be easily tracked.

Anyone who has a TxID will know all the details of the transfer, such as: sender's address, recipient's address, total amount sent, date of transfer, block height, commission and number of confirmations. Transaction hashes and IDs do not contain personal information, so it is completely safe to share.