Hydrogen's low density prevents its use in hot air balloons, but it shares a use with carbon dioxide in fire extinguishers.
Density is a measure of how much mass is contained in a given volume. Hydrogen, while being the lightest element, cannot be used in hot air balloons because it's so light that it would not provide enough lift due to its low density.
One use shared by hydrogen gas and carbon dioxide gas is in fire extinguishers where they displace oxygen, thus suppressing the fire by removing one of the elements necessary for combustion.
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