Hash (TXID)

Hash (TXID)

Hash value, also known as HASH value, is typically represented by a short string of random letters and numbers. It is a “data fingerprint” generated by applying a hash algorithm to an input of arbitrary length, resulting in a set of binary values through encryption computation. Since computers use binary mode in their underlying machine code, the hash algorithm maps any length of binary values to a shorter, fixed-length binary value, known as the hash value. The main use of hash values is for file verification or signing.

Moreover, a hash value is a unique and extremely compact numerical representation of a piece of data. If a hash value is generated from a plaintext, even a minor change in that plaintext will result in a different hash value. This characteristic makes hash values commonly used to determine whether two files are the same.

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