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Events are used in a Contracts to provide information to the outside world. When an event is emitted, its name and arguments are recorded in transaction logs. As long as the contract is present on the blockchain, these logs can be accessed using the contract's address.
An Event Name is used to name and differentiate events. It is advised that the name be specific and descriptive enough to be able to infer the event's functionality and distinguish it from other events. Furthermore, the name will be utilized in the code as keyword to name the event.
Define the Input for this Event. An event's input is utilized to provide additional information when emitting the event, as all input (and its value) will be part of the event's payload at emission time.