A unique address for a device connected to the internet or a local network. IP stands for “Internet Protocol,” which is the set of rules governing the format of data sent via the internet or local network. IPv4 is the most common version of the Internet Protocol. It defines IP addresses in a 32-bit format, which looks like 126.96.36.199. IPv6, also called IP Next Generation, is the latest release of the IP address system. Its IP format is 1200:1210:1220:1230:1240:1250:1260:1270.