What is an IP Address?
An Internet Protocol address (IP address) is a numerical label assigned to each device connected to a computer network that uses the Internet Protocol for communication. An IP address serves two main functions: host or network interface identification and location addressing.
What is IPv4?
Internet Protocol version 4 (IPv4) defines an IP address as a 32-bit number, which limits the address space to 4294967296 (232) addresses. In this space, some addresses are reserved for special purposes such as private networks (~18 million addresses) and multicast addressing (~270 million addresses).
What is IPv6?
Because of the growth of the Internet and the depletion of available IPv4 addresses, a new version of IP (IPv6), using 128 bits for the IP address, was standardized in 1998.
IPv6 thus providing up to 2128 (approximately 3.403×1038) addresses. This is deemed sufficient for the foreseeable future.
More about networking?
More about IP addresses and networking can be found here.