A Transaction ID or TXID is the double SHA256 hash or SHA256d of a serialized Bitcoin transaction. TXIDs are not part of the the transaction, as the hash cannot be generated until the transaction is complete. A TXID and VOUT (or prevout_n) index are used to reference UTXOs when they are added to a transaction as an input.


    "inputs": [
            "prevout_hash": "b8ed28aa87b92328e26a20553ac49fcb21e1f68daeb6cf7bcf4536e40503ffa8",
            "prevout_n": 0,
            "scriptSig": "4830450221008824eee04a2fbe62d2c3ee330eb2523b2c0188240714bb1d893aced1c454fa9a02202d32dbccc2af1c4b
            "sequence": 4294967294,
    "lockTime": 598793,
    "outputs": [
            "scriptPubKey": "76a9146b0a9ed05da7223a1fe57e1a4d307556f7d6200788ac",
            "value": 1800
            "scriptPubKey": "76a914b993e512cb186f3f1c3f556a09716a1580eb99a188ac",
            "value": 90000

serialized transaction: "0100000001a8ff0305e43645cf7bcfb6ae8df6e121cb9fc43a55206ae22823b987aa28edb8000000006b4830450221008824

transaction id: "d8c5c42cbd1df7e48acab76fe05f2c9e612a20996fd37f4ffd4dc251385b6ba3"


The double SHA256 hash enables network participants to identify and communicate transactions efficiently. They are used at all levels of the ecosystem, including wallets and block explorers.

Transaction ids are used extensively in the peer-to-peer protocol. For example, peers on the network synchronize their transaction database using a 3 message sequence. A node will send out an inv message containing one or more transaction ids. In the case that the receiving node/peer does not have a copy of the full transaction, he can respond with a gettransaction message containing the transaction id. This is responded to with a tx message containing the full serialized transaction. Using transaction ids to broadcast transaction database information greatly reduces the volume of data that has to be sent over the network.

The double hash property can be used in another interesting way. The user can know that a corresponding party has a copy of the full TX by requesting the intermediate hash, which can only be generated by hashing the full transaction. This ‘proof of possession’ is present across Bitcoin and enables complex functionality and checking of resources when Bitcoin is being used in a fully peer to peer environment.

See Also


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Written by Ramon Quesada

Passionate about Blockchain & Bitcoin technology since 2013, Co- Founder of https://avalbit.org, Team Manager in the CoinTelegraph Spain franchise (2016-2017 years) Co. Organizer of the Blockchain Boot camp Valencia 2018, Co. Organizer of the mini Hackathon BitcoinSV Barcelona, in August 2019, current coordinator of the BSV Valencia Meetup. https://telegra.ph/Ramon-Quesada---Links-01-10


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