We discuss the nature of the redshift effect by assuming that the frequency and the speed of light decrease in time while it propagates from a stationary source of light relative to a stationary observer. This concept differs in a principal way from the modern model of the redshift effect, which states that the observed increase in the wavelength of emitted light from far-away objects is due to cosmological expansion of the universe. Precisely, an increase in the distance between a light source ...