Chromatic Aberration can be seen as color fringes, most noticeable near the edge of an image. This is caused by different wavelengths (colors) of light being focused at different points.
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In the image above you can see chromatic aberration - a green fringe on the left of the leaves, and a magenta fringe on the right.
This happens because lenses have a different refractive index for different wavelengths of light. So as the light passes through the lens, it can become split, like it does through a prism. The problem is only relatively small, but it can show up in images, particularly if you view them at large sizes.
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