Newly discovered ‘super-Earth’ orbits its star once every 2.4 days

The video discusses the discovery of the exoplanet GJ740B, located 36 light years from Earth. It details the planet's characteristics, such as its temperature, mass, and orbit. The video also mentions a potential second planet in the same system. Two methods for discovering exoplanets, the transit method and the radial velocity method, are explained.

What are the two methods identified for discovering new planets outside of Earth's solar system?

Explain the transit method of planet discovery.