How a transaction hash works
The hash is produced when the transaction is submitted, before any block includes it, so the same identifier follows the transfer from pending to final. On Ethereum, a transaction hash is written as 0x followed by 64 hexadecimal characters.
Because the hash is computed from the contents, changing any detail gives a different hash. A hash proves that a transaction exists and what it did, and says nothing about who owns the addresses involved.
How a platform uses transaction hashes
- Deposits: each transfer is credited once, never twice
- Withdrawals: the hash is shown to the customer as a receipt
- Reconciliation: ledger entries are matched to on-chain transfers
- Support: a customer's hash settles whether and where a payment went
- Compliance: screening results and Travel Rule records refer to it
One hash can cover many transfers, for example a batched withdrawal or a contract call that moves several tokens. Platforms therefore key deposits on the hash together with the position of the transfer inside it.
A transaction that is replaced with a higher fee gets a new hash, so a system that tracks only the first one can miss the payment that confirmed.
Transaction hash, transaction ID or address?
- Transaction ID in payments
- An identifier assigned by a gateway, an acquirer or a card scheme and held in their systems. A transaction hash is computed from the data and is public.
- Wallet address
- Identifies where assets sit. A hash identifies one movement between addresses.
- Block hash
- Identifies a whole block, which contains many transactions.
Where a transaction hash shows up in a platform
Modules that do the work
- Custody & walletsWallets on every major chain, with MPC custody from leading providers or your own keys.
- LedgerThe double-entry book of record behind every balance, fee and transfer.
- Compliance reportingTransaction monitoring, the Travel Rule and regulatory reports, ready for your regulator.
Platforms that need it
Where it is written
The laws and standards this page's facts come from.
General information, not legal advice: what applies to you depends on your services and your market.