Myoglobin is a small protein responsible for reversible oxygen binding, characterized by its iron–porphyrin complex and a hyperbolic oxygen-binding curve, while hemoglobin displays a sigmoid curve due to cooperative interactions. The structural differences between myoglobin and hemoglobin reflect their distinct functions: myoglobin stores oxygen in muscles, whereas hemoglobin facilitates oxygen transport from the lungs to tissues. Myoglobin lacks cooperative binding and the Bohr effect, making it more efficient at retaining oxygen under low pressure conditions.