Final answer:
The chemical released into the space between two neurons is a neurotransmitter, which allows the transmission of signals across the synapse from the axon of one neuron to the dendrites of another.
Step-by-step explanation:
The name of the chemical released into space between two neurons is a neurotransmitter. Neurotransmission is the process in which neurotransmitters are released by the axon terminal of a neuron (the presynaptic neuron), and these chemicals then bind to receptors on the dendrites of another neuron (the postsynaptic neuron). This occurs at a structure known as the synapse, where the axon terminal meets another cell. The released neurotransmitters then travel across the synaptic cleft, a narrow gap between the neurons, to transmit signals and allow the nerve impulse to continue through the receiving neuron.