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According to modern definition, Oxidation is  when an atom, molecule, or ion loses one or more electrons in a chemical reaction.When oxidation occurs, the oxidation state of the chemical species increases.Oxidation doesn't necessarily involve oxygen! Originally, the term was used when oxygen caused electron loss in a reaction. The modern definition is more general. Whereas, reduction involves the gaining of electrons by one of the atoms involved in the reaction between two chemicals. The reduction  term refers to the element that accepts electrons, as the oxidation state of the element that gains electrons is lowered.

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