The iron ion, represented as Fe²⁺, is a positively charged ion of iron that has lost two electrons. This ion is commonly found in various compounds and plays a crucial role in biological systems, particularly in the transport of oxygen in the blood through hemoglobin. Fe²⁺ is also important in industrial applications, such as in the production of steel and other alloys. It can exist in different oxidation states, with Fe³⁺ being another common form. The balance between these states is essential for many chemical reactions and processes.