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Blockchain has many benefits, one of which is enabling faster, cheaper, and more transparent transactions. Whether you are sending or receiving digital coins like Bitcoin, you can easily locate the transactions on the blockchain. This is thanks to the transaction ID.
A transaction ID or TIXD is a unique string of characters used to reference transactions on a blockchain. It is given to every transaction that is verified and added to a blockchain. This means all blockchain transactions come with a transaction ID.
Also referred to as hash or transaction hash, transaction ID has its benefits.
One, TXID comes in handy when you need proof that you are the one who sent Bitcoins. The recipient of your transfer may request it from you to prove that you sent the payment successfully. TXID is more like a digital receipt of your blockchain transactions. It is safe to share.
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