A cryptographic transcript is the specified record of messages exchanged during a cryptographic protocol execution. Its content depends on the purpose: a public communication record differs from a participant's complete private view, which can also include its input, secret state and randomness. Order, message boundaries and the identities or roles associated with messages can matter.
For a concrete standardized use, Transport Layer Security 1.3 authenticates a transcript hash computed from selected handshake messages in their prescribed order. It includes handshake type and length headers, but excludes record-layer headers. Its retry path specifies a special replacement for the first client message.[ref]
An original toy transcript makes the distinction between messages and concatenated payloads visible. Suppose a sender transmits ab and then c. The payload sequence is . Another execution transmits a and then bc. Both flatten to ASCII bytes 61 62 63, even though they have different first messages. A length-prefixed encoding preserves the distinction as 02 61 62 01 63 versus 01 61 02 62 63. A hash cannot recover boundaries that were omitted before hashing.
Direction can be equally important. The records “initiator sends yes” and “responder sends yes” contain identical payloads but assert different behavior. A format used to authenticate those assertions must bind the relevant roles, either explicitly in the encoded record or through an unambiguous protocol context. This toy rule is not a replacement for the TLS transcript format.
In a security proof, the observer's view and its correlations must be specified. A cryptographic simulator that samples messages with correct individual frequencies may still produce the wrong joint probability distribution with the cryptographic environment's retained inputs. A cryptographic transcript also discloses only the observations it records: a transcript omitting timing cannot by itself justify a security claim against timing observations.
A transcript hash is a compact fingerprint of the encoded record under the relevant cryptographic hash function assumptions. An unkeyed hash alone does not identify the speaker: a digital signature or message authentication code must bind it to an authenticated context when that is the intended guarantee.

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