Why is it interesting?

Among those of us who think about space and time professionally, black holes play a central role. […] Beyond the fascination they hold for astronomers, black holes are important to science for other reasons. They are a central object of study for those of us who work on quantum gravity. In a sense, black holes are microscopes of infinite power which make it possible for us to see the physics that operates on the Planck scale.

Three Roads to Quantum Gravity by Lee Smolin

Layman

A black hole is a place where light cannot escape because gravity is so strong. This is possible because light always moves with the same velocity in the vacuum and therefore cannot move so fast as would be required to escape the black hole. In addition, no object or thing can move faster than with this speed of light, and therefore nothing can escape a black hole.

As a result, no light and nothing else can emerge from the black hole.

However, light and other objects can fall into the black hole. If this happens, the black hole gets heavier and larger.

The surface of a black hole is called the black hole horizon.

A black hole is created when a very massive object, like a huge star, collapses. This happens, for example, when a star is burned out and no longer has enough energy to radiate. As long as the star is able to radiate, this radiation works against the gravitational pull and keeps the star stable. But when it no longer can radiate, the whole mass of the star collapses due to gravity. The original mass of the object will compress infinitely and forms an extremely massive object that we call a black hole.

It is important to note that the horizon is not the surface that formed the black hole. Instead, the horizon is the boundary of the region where no light can escape. Gravity gets weak as we move away from a massive object. Therefore, the farther we are from a massive object, the weaker gravity gets. As a result, if we move far enough away from a black hole its gravitational pull gets so weak that light can escape again. At the horizon is the surface where gravity is only just strong enough to hold everything inside. Outside of the horizon, light can escape.

• A great discussion of Black Holes in layperson terms can be found in Chapter 5 of Three Roads to Quantum Gravity by Lee Smolin

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