What event is initiated by the shockwave rebounding outward from the suddenly halted iron core?

Answer

A Type II Supernova.

After the iron core collapses and is suddenly stopped by the immense pressure exerted by degenerate neutrons, the material that has plunged inward rebounds violently. This creates a powerful outward shockwave that propagates through the overlying layers of the star. This rebound, significantly augmented by a massive accompanying flood of neutrinos streaming from the newly formed ultra-dense neutron core, is what forcefully ejects the star's outer layers into space, resulting in one of the universe's most energetic explosions, designated as a Type II Supernova.

What event is initiated by the shockwave rebounding outward from the suddenly halted iron core?

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