Question
What is the photon model or quantum hypothesis of light?

Answer

To explain the interaction of light and matter (as in the emission or absorption of radiation), Max Planck, in 1900, and Einstein, in 1905, hypothesized light as concentrated or localized packets of energy. Such an energy packet is called a quantum of energy, which was given the name photon much later, in 1926, by Frithiof Wolfers and Gilbert Newton Lewis. For a radiation of frequency $v$, a quantum of energy is $h$, where $h$ is a universal constant, now called Planck's constant.
[Note : 'Localisation' of energy in a region gives light its particle nature while frequency is a wave characteristic. The complementary properties of particle and wave of light quanta are reconciled as follows : light propagates as wave but interacts with matter as particle]

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