The Quantum Hall effect is a phenomenon observed in two-dimensional electron systems subjected to low temperatures and strong magnetic fields. It results in quantized Hall conductance, meaning the electrical resistance perpendicular to the current flow takes on discrete values. This effect is a consequence of the quantization of energy levels in the presence of a magnetic field. Discovered in 1980 by Klaus von Klitzing, the Quantum Hall effect has significant implications in condensed matter physics. It provides insights into the behavior of electrons in materials and has led to advancements in the understanding of topological phases and quantum computing.