Li-Fi is a wireless optical networking technology that uses light-emitting diodes (LEDs) for communication. It was invented by Professor Harald Haas and is a faster, more secure, and cheaper alternative to Wi-Fi. Li-Fi uses visible light communication and LED light bulbs to transmit data, allowing for much higher speeds than Wi-Fi. Some challenges remain around light not passing through objects and interference from other light sources, but Li-Fi shows promise for applications like traffic lights, hazardous environments, and undersea use where Wi-Fi cannot reach.