Why is water used as a medium for chemical reactions?

(N/A) Water is widely used as a reaction medium due to the following reasons:
$1$. It has a high specific heat capacity,which helps in absorbing heat generated during exothermic reactions.
$2$. It is a polar solvent,making it excellent for dissolving ionic and polar covalent compounds.
$3$. It is chemically stable and relatively inert under many reaction conditions.
$4$. It is inexpensive,non-toxic,and easy to handle.