Fe₂O₃ is the chemical formula for iron(III) oxide or rust. It is formed when iron reacts with oxygen in the presence of water or moisture.
Oxide: An oxide is a compound composed of oxygen combined with another element, such as Fe₂O₃ (iron(III) oxide).
Corrosion: Corrosion refers to the gradual destruction or deterioration of a material, often metals, due to chemical reactions with their environment.
A redox reaction is a chemical reaction involving both oxidation and reduction processes. The formation of Fe₂O₃ involves both oxidation of iron and reduction of oxygen.