Index event fields make the field more quickly accessible to off-chain tools that parse events. However, note that each index field costs extra gas during emission, so it's not necessarily best to index the maximum allowed per event (three fields).
Likelihood:
In smart contract development, it's common to emit events for off-chain systems (like subgraphs, bots, frontends) to monitor state changes.
Impact:
Off-chain systems (like The Graph or backend listeners) cannot efficiently query or filter relevant logs without indexed fields.
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