The three electrode electrochemical cell consists of a working electrode, reference electrode, and counter electrode immersed in an electrolyte. A potentiostat controls the voltage between the working and reference electrodes while measuring the current between the working and counter electrodes. This allows electrochemical experiments to be performed for applications like environmental monitoring, drug testing, and identifying contaminants. Electrochemical reactions involve the transfer of electrons to or from an electrode surface in oxidation or reduction processes. The rate of electrochemical reactions is affected by factors like the electrode material, mass transport method, solution conditions, and electrical variables.