The modified by field type displays the name of the collaborator who has made changes in the record most recently. It gets updated whenever a record is created or edited in your table.
You can now see that the records are filled with the name of the collaborator who has last modified them.
If you are the only one working in the table, the Modified By field will return only your name in the field.
When you work as a team, the respective collaborator's name who made the change is reflected in the record whenever a change is detected.