Hemoglobin is a globular protein found in red blood cells that transports oxygen and carbon dioxide throughout the body. It is composed of heme groups with iron atoms that bind oxygen and protein subunits called globin. The iron in hemoglobin exists in the ferrous state, where it has six coordination sites that allow it to bind to four nitrogen atoms in the protoporphyrin ring of heme, a histidine residue on the globin, and either an oxygen or carbon dioxide molecule. Hemoglobin demonstrates allosteric behavior, where its affinity for oxygen changes in response to factors like pH, allowing it to efficiently deliver oxygen to tissues and pick up carbon dioxide.