Blockchain Transaction Verification: A Complete Guide to TXID

BlockchainRetirementHome · 2025-12-21T13:20:37+00:00

The essay explains the importance of verifying blockchain transactions through transaction IDs (TXID). It details how TXIDs work, their historical significance, and provides guidelines on how to check transactions using blockchain explorers. It emphasizes the unique and immutable nature of TXIDs for security and transparency.

BlockchainRetirementHome

2025-12-21 13:20:37

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Why it is necessary to verify a transaction through ID

Each operation in the blockchain receives a unique identifier — the transaction hash. This number serves as a “passport” for tracking the movement of funds. Understanding how to verify a transaction through the TXID is critical when withdrawing crypto from your wallet, especially if the funds are going to a new address.

What is a transaction hash (TXID)

TXID is a unique string that is generated by cryptographic hashing of transaction data. It encodes information about the sender, recipient, and amount. Bitcoin uses the SHA-256 algorithm, which transforms the input data into a 64-character hexadecimal number.

The system that allows you to verify a transaction at any moment is based on the fact that each hash is unique and immutable. This ensures the transparency and security of the entire network.

Examples of Historical Bitcoin TXID

The first cryptocurrency operation in history

Satoshi Nakamoto sent bitcoins to Hal Finney in the transaction with TXID: F4184fc596403b9d638783cf57adfe4c75c605f6356fbc91338530e9831e9e16

Legendary pizza purchase

When Laszlo Hanyecz purchased two pizzas for 10,000 BTC, his TXID looked like this: Cca7507897abc89628f450e8b1e0c6fca4ec3f7b34cccf55f3f531c659ff4d79

These examples demonstrate how to verify a transaction even years later thanks to the immutability of the hash.

How to find and verify a transaction in the block explorer

All TXIDs are available on public networks and can be viewed through special tools. To verify a transaction, you will need:

Copy the TXID from your wallet's transaction history
Go to the block explorer (blockchain.com, blockchair.com or similar)
Insert the hash into the search bar
Study the details: addresses of the parties, fee amount, confirmation status

Checking withdrawals from a centralized platform

When you withdraw cryptocurrency from the trading platform, it automatically provides you with a TXID. On the transaction history page, find the row with the withdrawal, and the system will show the unique hash number.

This function helps to check the transaction for address errors. If funds are mistakenly sent to the wrong address or incorrect blockchain, the TXID will allow tracking the operation. However, it is not always possible to recover such funds — it is recommended to contact the support of the receiving platform.

The Key Role of Hash in Verification

Thanks to SHA-256, each operation receives its own unique identifier. This allows any user to verify the transaction, ensure its authenticity, and track the movement of assets. The system provides complete transparency of the blockchain while maintaining the privacy of participants.

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