Is Event.set() the preferred way to stop a thread?

[svetlanarosemond]

I posted this question on SO, but didn't receive an answer.

I came across these two pages (1,2) about cancelling threads.

Question:

Is using a boolean to cancel a thread bad practice? Is the preferred method to use Event.set()?

Is there any disadvantage to using the boolean to cancel?

From the docs:

Set the internal flag to true. All threads waiting for it to become true are awakened. Threads that call wait() once the flag is true will not block at all.