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Ionic compounds are primarily formed from the electrostatic attraction between charged ions. In the process of forming an ionic compound, one atom, usually a metal, loses one or more electrons to become a positively charged ion (cation), while another atom, typically a non-metal, gains those electrons to become a negatively charged ion (anion). The resulting cations and anions are held together by strong electrostatic forces, known as ionic bonds. This attraction occurs because opposite charges attract, leading to the formation of a stable ionic lattice structure.

Understanding this fundamental concept is critical in chemistry, as it distinguishes ionic compounds from other types of chemical bonding, such as covalent and metallic bonding. In covalent bonds, atoms share electrons rather than transferring them, while metallic bonding involves a 'sea of delocalized electrons' that facilitate conductivity and malleability. The options regarding acids and bases pertain to a different context of chemistry that involves neutralization reactions, which are not the primary method of forming ionic compounds.