IP Address stands for Internet Protocol Address and is a numerical name that each of the devices working on the internet is assigned. For numerous computers and devices communicating on the internet, there is the same number of IP addresses. This IP address is made up of numbers that can be read by users normally as a simple language. It serves a major role in computer networking and has two functions in networking. The two functions of the IP Addresses are interface identification and location addressing as it is responsible for the identification of devices or computers. 

The two Internet protocols that are quite well-known are Internet Protocol version 4 (IPv4) and Internet Protocol version 6 (IPv6). IPv4 is an older or outdated version as it reads IP addresses as a 32-bit number. IPv6 was next to IPv4 as the users across the internet increased and IPv4 ended with the lack of IPv4 addresses. IPv6 turned out better due to the 128-bit number in IP addresses that started in the year 1998. IP addresses are simple numbers and so they are readable without need of any software as it’s just a simple numerical format.