Localization of a ring is a process that allows for the creation of a new ring from an existing ring by focusing on a specific subset of its elements, usually to allow division by those elements. This process enables one to 'zoom in' on the behavior of the ring concerning these elements, often revealing properties that are not apparent in the original ring. It's a fundamental concept that connects algebraic structures with geometry, particularly in understanding local properties of algebraic varieties.
congrats on reading the definition of Localization of a ring. now let's actually learn it.