Transaction ID (TxID) is a unique identifier assigned to each transaction processed on a blockchain. This alphanumeric string helps distinguish one transaction from another, ensuring clarity and organization within the network.When a transaction is made, it is broadcasted to the network and recorded in a block. The TxID is generated based on the transaction’s details, such as the sender’s address, recipient’s address, amount, and timestamp. This identifier allows users and miners to track the transaction’s status, confirm it on the blockchain, and verify its authenticity.TxIDs are crucial for transparency, enabling anyone to verify transactions on the blockchain using a block explorer. This promotes trust in the system, as all transactions are publicly accessible and immutable, meaning they cannot be altered once confirmed. In summary, a Transaction ID serves as a vital reference point for users, helping them navigate and confirm their activities within the blockchain ecosystem.