How to follow each transaction on the blockchain with its ID

2025-12-21 02:41:19

Why Each Transaction Needs a Unique Signature

You have sent cryptocurrencies and you want to check that the money has left your wallet? Or you are waiting for a receipt and want to see the status of the transfer? This is where the transaction ID comes in, also known as transaction hash or TXID. It works like a postal tracking number: it is the unique digital signature assigned to each movement of funds on the blockchain.

Every time a transaction is validated and recorded on the blockchain, a unique identifier is assigned to it. This identifier is the result of a mathematical calculation applied to the parameters of the transaction: the sender's address, the recipient's address, and the amount transferred. In practical terms, it's like creating a digital fingerprint of the transfer.

The algorithm behind the TXID: SHA-256

For Bitcoin transactions, the system uses SHA-256 (Secure Hash Algorithm 256-bit), a powerful cryptographic function. This function processes the input transfer information and produces a 64-character hexadecimal code, impossible to forge or alter after creation.

This transparency has a major advantage: anyone can verify that a transaction has actually taken place by consulting public blockchain explorers.

Two historical transactions that marked Bitcoin

The very first Bitcoin transaction dates back to the genesis block created by Satoshi Nakamoto. Here is its TXID:

BTC2,62%

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.