Can you provide an example of how a transaction hash is used to verify a transaction in the blockchain?

1 answers

• Boring WozniakOct 23, 2022 · 3 years ago
  Sure thing! Let me break it down for you. When a transaction is made on the blockchain, it is assigned a unique transaction hash, which is a long string of characters. This hash is generated by applying a cryptographic hash function to the transaction data. Think of it as a digital fingerprint of the transaction. To verify the transaction, the hash is included in the block that contains the transaction. When the block is added to the blockchain, the hash is also added to the block's header. To verify the transaction, one can take the transaction data, hash it using the same algorithm, and compare the resulting hash with the hash stored in the block header. If the two hashes match, it means that the transaction has not been tampered with and is considered valid. This process ensures the security and trustworthiness of transactions on the blockchain.
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