What is the use of meta class and is it necessary to use meta name for this class?

#1

what is the use of meta class and is it necessary to use meta name for this class?

#2

This is just a class container with some options (metadata) attached to the model. It defines such things as available permissions, associated database table name, whether the model is abstract or not, singular and plural versions of the name etc.

Yes, the class name should be Meta