What is the purpose of HidePrefix?

[#1]

What is the purpose of the HidePrefix?

As far as I know, this means that any field that starts with the defined HidePrefix will be hidden from the field list so when I view the field list with the "Show System Field" checkbox unchecked, fields created using the defined HidePrefix will not be visible in the "Available Fields" list.

This keeps the available fields list shorter and removes fields that I do not want to make visible to the end user because it is supposed he/she will not need to use anywhere else in the application.

Apart from this, is there any other use?

[trdandamudi]

Your understanding is correct and there is nothing more to it....