Introduce new observibility - Emit Top-Down Traces

[karlem]

Description

Design and implement the top-down tracing logic. Ensure all relevant events are captured and emitted correctly. Test that the subscriber works as expected.

Tasks

• Design the top-down tracing logic.
• Implement the tracing logic.
• Capture and emit relevant events.
• Test the subscriber functionality.

Acceptance Criteria

• Top-down traces are designed and implemented.
• Relevant events are correctly captured and emitted.
• Subscriber functionality is tested and verified.

Part of: #1055