We suggest that physics underlying the recently observed removal of
sublattice and spin degeneracies in graphene in a strong magnetic field
describes a phase transition connected with the generation of an excitonic gap.
The experimental form of the Hall conductivity is reproduced and the main
characteristics of the dynamics are described. Predictions of the behavior of
the gap as a function of temperature and a gate voltage are made.Comment: Revtex4, 10 pages, 4 figures, text essentially extended, one figure
and references added; v3: to match PRB versio