A log or a logfile is a technical term for a file (or database) that lists chronologically all of the system events that have taken place.
In MUCKs, IRC and chatrooms, logs specifically refer to transcripts of chats or MU* sessions. The client programs people use to connect to these services usually have a specific option to store everything the players sees (and also types, unless the system echoes everything back) to a log.
Among furries, there's a culture of sharing logs - specifically logs of role-playing sessions and TinySex. It should be noted that many MUCKs have policy that specifies that sharing logs is only allowed if all participants agree to their publications.
MUCK admins sometimes encourage people to log things for evidence against player misbehaviour. However, admins rarely trust logs as sole evidence, since they can easily be manipulated or fabricated. In dispute situations, admins have to consult the internal master logs to verify the alleged misbehaviour.
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