$O_2$, or molecular oxygen, is the diatomic form of the element oxygen. It is an essential component in many chemical reactions, particularly those involved in cellular respiration and energy production within living organisms. $O_2$ is a colorless, odorless, and highly reactive gas that makes up approximately 21% of the Earth's atmosphere. Its ability to readily participate in redox (reduction-oxidation) reactions makes it crucial for a wide range of chemical and biological processes.