When a device connects to a network, a router assigns the device an IP address via a Dynamic Host Configuration Protocol Server which is unique to that network
IPv4 are 32 bit addresses in 4 sections
IPv6 are 128 big addresses with the format 8 groups of four Hex digits. These addresses remove the risk of collisions and allow for better packetswitching. They also have built in authentication checks
Dynamic IP addresses change every time a device connects to a network, allowing greater privacy
Static IPs are permanently assigned which allows a device to be fully traceable. Faster upload and download speeds but more expensive to maintain