Radioactive decay is characterized by an exponential decay law due to the independence of particles and the constant probability of decay per unit time. Each particle's decay probability does not depend on its age or the number of particles present, leading to the relationship dN = const * N * dt. This model can be understood through analogies, such as bombs detonating independently based on random number generation. When multiple radioactive substances are involved, the decay may not be exponential, resulting in a sum of different decay statistics. Overall, the exponential nature of decay is a general theoretical law grounded in simple probabilistic principles.