Magnet falling through a ring

When a magnet falls through a ring, current is induced in the ring. This phenomenon is called electromagnetic induction.

According to Faraday’s law, the induced emf is proportional to the negative of the rate of change of magnetic flux Φ. The direction of the induced current is determined by Lenz’s law, the induced current produces magnetic field which tends to oppose the change in magnetic flux that induces such currents.

The voltage induced when a magnet is falling through a ring is simulated in this experiment, where we model the magnet as a magnetic 'dipole'. The current is visualized by very big 'electrons' that move according to the strength of the current.

Please, complete this set of Minds-On questions: