The type of bond formed by the electrostatic attraction between oppositely charged ions is known as an ionic bond. This bond occurs when one atom donates electrons to another, resulting in the formation of positively and negatively charged ions. The attraction between these charged ions creates a strong bond, typically seen in compounds like sodium chloride (table salt). Ionic bonds contribute to the stability of many compounds and influence their physical properties, such as solubility and melting points, playing a critical role in various chemical reactions.