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The toUtf8 function is a utility method provided by the web3.utils module that converts a hex string or a Uint8Array to a UTF-8 string.
The function takes a single input argument, which can be either a string or a Uint8Array. If the input is a string, it is assumed to be a hex string and is converted to a UTF-8 string. If the input is a Uint8Array, it is treated as a byte array and is converted to a UTF-8 string.input: The input to be converted to UTF-8 string.
The function returns a string representing the UTF-8 encoding of the input.
Here's an example of how the toUtf8 function can be used:
In this example, the toUtf8 function is called with a hex string 0x68656c6c6f20776f726c6421. The function returns a UTF-8 string representing the hex string, which is then logged to the console.