Ethereum: What is the transaction ID?

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Understanding Transaction Ids in Ethereums

When Among these is the transaction ID (TXID), also knows as the “Transaction hash.” In this article,

What is a hash transaction?

Transaction hash is a digital fingerprint or a unique identifier assigned to every bitcoin transaction on the blockchain. It’s essentially a 66-word hexadecimal string that represses the entire transaction data. The hash function tak

How is the Transaction Id Created?

ETH_Sendtransaction Command-Line Tool or the Web3.js Library, the Generates System and Unique Transaction hash based on the following factors:

1.

• Output addresses : the recipient (s) of the payment.

• Amount : the value being transferred (in this case, Bitcoin amount).

• Timestamp

  : the current timestamp in seconds since January 1, 1970.

The transaction hash is generated using a cryptographic algorithm that takes these inputs as inputs and produces a fixed-Length output. This ensures that each transaction has an unalterable and unique digital fingerprint.

**

No. While both are hexadecimal strings, they have different structures and contents. The txid type has 66 characters and can be more or less than this length.

For example:

* Transaction hash : 0x1234567890abcdef

* Transaction Id : 0xf43a8e7c9485cd

The hash on the LHS is a fixed-Length output that represents the entire transaction data, while the txid is a shorter, more descriptive string that indicates the specific details of the transaction.

In Summary

The transaction ID (TXID) in an Ethereum transaction is a unique digital fingerprint created by the system based on the input address, amount, timestamp, and cryptographic hash. The hash shown on the LHS of the transaction is not the same as the txid. Understanding these concepts is essential for working with Bitcoin transactions and interacting with the Ethereum Network.

Code Example

Here’s an example in JavaScript using the Web3.js Library to Generate a Simple Bitcoin Transaction:

`JavaScript

Const Web3 = Require (‘Web3’);

Const address = ‘0x1234567890abcdef’;

Const Txhash = New Uint8Array (66);

txhash [0] = 0; // Input Address (0x00000000)

txhash [1] = 0; // Input Address (0x00000001)

// …

Const transaction = {

from: ‘0x1234567890abcdef’,

To: Address,

Value: ‘1.2 Bitcoin’,

Timestamp: Math.Floor (New Date (). Gettime () / 1000),

};

Web3.eth.sendtransaction (Transaction, (Error, Result) => {

If (! Error) {

console.log (‘txid:’, txhash.join (”));

} Else {

Console.Error (Error);

}

});

`

This Code Generates a Basic Bitcoin Transaction with the Recipient Address 0x1234567890abcdef. The resulting txid is printed to the console.

Hope this Explanation Helps! Let me know if you have any further questions or need more clarification.