IP address: For Internet Protocol version 4 (IPv4), a 32-bit address used to identify a node on an IPv4 internetwork. Each node on the IP internetwork must be assigned a unique IPv4 address, which is made up of the network ID, plus a unique host ID. This address is typically represented with the decimal value of each octet separated by a period (for example, 192.168.7.27). You can configure the IP address statically or dynamically by using Dynamic Host Configuration Protocol (DHCP).
For Internet Protocol version 6 (IPv6), an identifier that is assigned at the IPv6 layer to an interface or set of interfaces and that can be used as the source or destination of IPv6 packets.

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