Final answer:
Hemoglobin in red blood cells binds and transports oxygen, carbon dioxide, and hydrogen ions, playing a key role in gas exchange and pH balance in the bloodstream.
Step-by-step explanation:
Hemoglobin is a protein found in red blood cells that has the important function of transporting gases in the blood. It is capable of binding and transporting oxygen, carbon dioxide, and hydrogen ions. Specifically, hemoglobin can bind up to four oxygen molecules, and it also has the ability to transport carbon dioxide and hydrogen ions, which helps to maintain the blood's pH balance. Although carbon dioxide can dissolve in blood and be carried as bicarbonate ions, a significant amount still binds to hemoglobin. Moreover, the majority of oxygen in the blood is transported by binding to hemoglobin. This versatility of hemoglobin makes it crucial for the proper functioning of the circulatory and respiratory systems.