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IPv4 (Internet Protocol version 4) addressing is a numerical label assigned to each device participating in a computer network that uses the Internet Protocol for communication. It is a fundamental component of the Internet, providing a unique identifier to each device connected to a network. IPv4 addresses are 32-bit binary numbers, typically expressed in a human-readable dotted-decimal format (e.g., 192.168.1.1).

IPv4 is used for several critical functions in networking, including:

1. Host Identification: IPv4 addresses uniquely identify devices (hosts) on a network, enabling communication between them.

2. Routing: Routers use IPv4 addresses to determine the optimal path for data packets to reach their destination across the Internet.

3. Network Configuration: Devices use IPv4 addresses to configure their network settings, such as IP address, subnet mask, and default gateway.

However, IPv4 has limitations, primarily related to address exhaustion. The 32-bit address space provides approximately 4.3 billion unique addresses, which was considered sufficient in the early days of the Internet. However, due to the exponential growth of connected devices, IPv4 addresses are now running out. To address this, IPv6 (Internet Protocol version 6) was introduced, offering a vastly larger address space to accommodate the growing number of devices on the Internet. The transition to IPv6 is ongoing to ensure continued growth and sustainability of the Internet.

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