With reference to 'LiFi', recently in the news, which of the following statements is/are correct? 1. It uses light as the medium for high-speed data transmission. 2. It is a wireless technology and is several times faster than 'WiFi'. Select the correct answer using the code given below.

LiFi (Light Fidelity) is a high-speed, bidirectional wireless communication technology that uses the visible light spectrum to transmit data, offering speeds significantly faster than traditional radio-wave-based WiFi. While statement 1 is factually correct, selecting option (a) is incorrect because it overlooks the defining comparative advantages of speed and wireless connectivity described in statement 2. The core concept being tested is the practical application of the electromagnetic spectrum in modern data transmission and networking.