In the world of cryptocurrency, a transaction hash, also known as a hash ID, is a unique identifier that is used to track and verify cryptocurrency transactions on the blockchain. In this article, we will explain what a transaction hash is and why it is important for cryptocurrency transactions.
What is a transaction hash/id?
A transaction hash is a string of letters and numbers that is generated when a cryptocurrency transaction is initiated. It is a unique identifier that is used to track the transaction on the blockchain. Every transaction that occurs on the blockchain is recorded as a block, and each block has a unique hash. The transaction hash is a reference to the specific block that contains the transaction.
Each and every single transaction that is conducted on the Bitcoin blockchain has this unique identifier. Similarly, transactions on the Ethereum blockchain will have a unique Tx hash and every transaction on Litecoin blockchain will also have a TxID.
For example, a Bitcoin transaction ID looks like this:
a1062db53e416d8fa109f23b7094a21e5b2645e16c5cf532fc90e4d8fbf5d48d
A transaction hash of Ethereum looks like this:
0xb4bc263278d3ф82a652a8d73a6bfd8ec0ba1a63923bbb4f38147fb8a943da26d
Why is a transaction hash important?
A transaction hash is an essential component of cryptocurrency transactions. It provides a way to track the progress of the transaction and verify that it has been completed. The hash is used to confirm that the transaction has been added to the blockchain, and it can be used to look up the transaction details on a blockchain explorer.
The transaction hash also serves as a record of the transaction. It contains information about the sender and receiver addresses, the amount of cryptocurrency sent, and any additional information such as a memo or destination tag. This information is important for tracking and verifying the transaction.
Use of TxHash and TxID
All transactions on the blockchain are publicly available. Once you make a payment or transfer coins to another address the transaction gets broadcasted and a Tx Hash/ ID will also get generated. Using the transaction ID one can easily track and trace the status of a transaction. They will get to know the whole details of the transfer such as sender address, receiver address, total amount send, the date of transfer, block height, fees paid, and the number of confirmations.
Transaction Hash and IDs contain no personal information so it is completely safe to share.
Where can I find the TxHash of my transaction on the app and web?
- Log into your account
- Open “ My assets “
- Open Wallet tab and choose “Transactions”
- Press on the transaction, then you will see transaction details including TxHash (TXID)
On the web:
- Log into your account
- Open “ Wallet“
- Open Wallet tab and choose “Transactions”
How can I get my TxHash, if I can not log into my LATOKEN account?
If you have lost access to your device with 2FA you may need to disable 2FA.
- If you have been KYC verified before, our support team will ask you for a selfie of your document to verify it is truly your account.
- If you have not been verified, we will use the TxHash of your last transaction to verify your identity. To find and provide this you need to go back to the app you made the transaction from. There in the transaction history find the desired one and in its details, you will see the TxHash.
Comments
1 comment
Maine apne beet wallet coins Apne wallet mein transfer karae the 25 June ko abhi tak Bhi vah Mera ID mein transfer Nahin Hue please Mere coin Mujhe refund Karva dijiye
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