Why does an aqueous solution of chlorine lose its greenish color over time? What is the basis of chlorine’s ability to bleach fabric and paper?

An aqueous solution of chlorine eventually loses its greenish color, therefore, green-yellow chlorine reacts with water:
Cl2 + H2O = HCl + HClO
Two colorless acids are formed – hydrochloric acid (hydrochloric) and hypochlorous acid, which is unstable and decomposes into hydrogen chloride and atomic oxygen, which is a strong oxidizing agent.
HC1O = HC1 + O
It is this atomic oxygen that is capable of bleaching fabric and paper due to its strong oxidizing properties.

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