The chemical known as the "universal solvent" is water (H2O). This designation stems from water's ability to dissolve a wide variety of substances, which is crucial for numerous biological and chemical processes. Its polar molecular structure enables it to form hydrogen bonds and interact with ions and polar molecules effectively. In nature, water's solvent properties facilitate the transportation of nutrients and minerals in biological systems and are essential for reactions within living organisms. Additionally, water plays a critical role in maintaining ecological balance and is a vital medium for countless chemical reactions in laboratories and natural environments.