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The hexToString function is a utility method provided by the web3.utils module that allows you to convert a hexadecimal string representation of text to its corresponding UTF-8 string representation. This function is useful when working with smart contracts that operate on text data, as it enables you to convert hex-encoded text to a format that can be easily processed by the contract.
The function takes a single parameter, str, which is the hexadecimal string that you want to convert to a UTF-8 string. The function then performs the necessary conversions and returns the UTF-8 string representation of the input hex string.
Here's an example usage of the hexToString function:
In this example, the hexToString function takes the hexadecimal string '0x74657374' as input and returns the UTF-8 string "test"