Understanding transaction identifiers at Ethereums
After sending cryptocurrency, such as Bitcoin, to another user in the blockchain network, such as Ethereum, you create a unique transaction that contains some key information. Among them is the transaction ID (TXID), also known as “transaction shortcut”. In this article, we delve into what every component means and how it is used in Ethereum transactions.
What is the abbreviation of the transaction?
Hash of transactions is a digital fingerprint or a unique identifier assigned to each bitcoin transaction on blockchain. Basically, it is a 66-lone hexadecim string that represents all transaction data. The shortcut function adopts transaction data (including sender, recipient, amount and other details) as an input and generates a fixed length output.
How is the transaction identifier created?
When creating a new Bitcoin transaction in Ethereum using the “ETH_SEDTRANSACTION or library tool, the system generates a unique abbreviation of transactions based on the following factors:
- Input address : Public key and sending address.
- Output addresses : Recipient (s) of payments.
- Quantity : transferred value (in this case Bitcoin amount).
- Timestamp : Current time marker in seconds from January 1, 1970.
Hash of the transaction is generated using a cryptographic algorithm, which accepts this input data as an input and produces a constant length output. This ensures that each transaction has an unchanging and unique digital fingerprint.
Is the abbreviation for LHS transactions the same as TXID?
No, the shortcut shown on the left (LHS) of bitcoin transactions is not the same as the transaction identifier (TXID). While both are hexagons, they have different structures and content. TXID usually has 66 characters and can be more or less than this length.
For example:
* Hash transaction : 0x1234567890abcdef
* Transaction ID
: 0xF4F43A8E7C9485CD
Hash on LHS is a fixed length that represents all transaction data, while TXID is a shorter, more descriptive string that indicates specific details of the transaction.
Summary
To sum up, the transaction identifier (TXID) in the Ethereum transaction is a unique digital fingerprint formed by the system based on the input address, quantity, time stamp and cryptographic abbreviation. Hash shown on LHS transactions is not the same as TXID. Understanding these concepts is necessary to work with bitcoin transactions and interaction with the Ethereum network.
Example of code
Here is an example in JavaScript using the Web3 Library .js to generate a simple bitcoin transaction:
`Javascript
Const web3 = requires ("web3");
Const Address = '0x1234567890ABCDEF';
Const txhash = new uint8array (66);
txhash [0] = 0; // input address (0x00000000)
txhash [1] = 0; // input address (0x00000001)
// ...
Const transaction = {
From: "0x1234567890abdef",
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 (''));
} otherwise {
console.error (error);
}
});
This code generates a basic Bitcoin transaction with the recipient’s address 0x1234567890abcdef. The created TXID is printed for the console.
I hope this explanation will help! Let me know if you have any further questions or need more explanations.
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