An Internet Protocol (IP) address is a numerical identification (logical address) that is assigned to devices participating in a computer network utilizing the Internet Protocol for communication between its nodes.[1] Although IP addresses are stored as binary numbers, they are usually displayed in human-readable notations, such as 38.107.191.95 (for IPv4), and 2001:db8:0:1234:0:567:1:1 (for IPv6). The role of the IP address has been characterized as follows: "A name indicates what we seek. An address indicates where it is. A route indicates how to get there." [2]

The original designers of TCP/IP defined an IP address as a 32-bit number[1] and this system, now named Internet Protocol Version 4 (IPv4), is still in use today. However, due to the enormous growth of the Internet and the resulting depletion of the address space, a new addressing system (IPv6), using 128 bits for the address, was developed (RFC 1883).

The Internet Protocol also has the task of routing data packets between networks, and IP addresses specify the locations of the source and destination nodes in the topology of the routing system. For this purpose, some of the bits in an IP address are used to designate a subnetwork. (In CIDR notation, the number of bits used for the subnet follows the IP address. E.g. 208.77.188.166/24) An IP address can be private, for use on a LAN, or public, for use on the Internet or other WAN.

Early specifications intended IP addresses to each be uniquely assigned to a particular computer or device.[citation needed] However, it was found that this was not always necessary as private networks developed and address space needed to be conserved (IPv4 address exhaustion). RFC 1918 specifies private address spaces (also known as non-routable addresses) that may be reused by anyone; today, such private networks typically connect to the Internet through Network Address Translation (NAT). In addition, technologies such as anycast addressing have been developed to allow multiple hosts at the same IP address but in different portions of the Internet to service requests by network clients.

The Internet Assigned Numbers Authority (IANA) manages the global IP address space. IANA works in cooperation with five Regional Internet Registries (RIRs) to allocate IP address blocks to Local Internet Registries (Internet service providers) and other entities.

(Wikipedia)