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ID space defines the format of the id sequence generator for different item-descriptors primary keys.
For example for order to start with o, commerceItem with ci etc.
There are different fields by which you can control the id format.
Like prefix, suffix to the generated id.
The seed value defines the spacing between each id key generated.
batch-size is for performance of id generation so it doesn't look up to DB every time.
Thank you very much Shaik