What is a transaction hash (TxID)?
- Author
- CRYPTO PORT Editorial
- Published
- Updated
- Reading time
- 3 min
In short
A transaction hash is the unique identifier attached to a single transfer. Paste it into a block explorer and you can see for yourself whether the transfer went through or is still waiting. It is also the fastest thing to give a support desk.
Key points
- One identifier per transaction, unique to it
- Search it in an explorer to see the current status
- The single most useful thing to quote to support
- Having it does not let you reverse the transfer
Definition
A string computed from the contents of a transaction. The same transaction always yields the same value and different ones yield different values, so it serves as the identifier for a single transfer.
When you send a transfer, its contents are run through a hash function to produce a string of around 64 characters. Change one byte of the transaction and the value is completely different, so it identifies that transfer unambiguously.
Its main use is checking status. An explorer will tell you whether the transaction is still unconfirmed, how many confirmations it has if it made it into a block, and what fee it paid. When funds have not arrived, this is how you work out where they stopped.
It is also better than a date and amount when contacting an exchange's support team. Bear in mind, though, that the hash existing means the transaction was broadcast — it is not a way to undo a transfer sent to the wrong address.
Watch out for
- · Sharing a hash cannot move your funds, but it does link you to that history
- · Once confirmed, a transfer to the wrong address cannot be reversed
- · Sites offering to 'recover' a transfer from its hash are scams