During gaseous exchange, the two main gases involved are oxygen and carbon dioxide. Oxygen is inhaled into the lungs and diffuses into the bloodstream, where it binds to hemoglobin in red blood cells and is transported to the body's tissues. Carbon dioxide, on the other hand, is produced as a waste product by cells during cellular respiration. It diffuses from the tissues into the bloodstream and is transported back to the lungs, where it is exhaled. This exchange of gases ensures that oxygen is delivered to the cells for energy production, while carbon dioxide, a waste product, is removed from the body.