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What is a TxID / Hash and what is it for?

Updated over 2 months ago

A TXID (Transaction ID), also known as a Hash, is a unique identifier that is automatically generated every time a transaction is made on a blockchain network.

This identifier works as a digital receipt that allows:

• Tracking a transaction on the blockchain.

• Verifying whether a deposit or withdrawal was sent correctly.

• Confirming the status of the transaction (pending, confirmed, or failed).

• Validating the information of an operation with the support team.

Each transaction on the blockchain has a single unique TXID and cannot be modified.

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