An IP (Internet Protocol) address represents a specific server or device on the a TCP / IP network like the Internet. The format of an IP address is a 32-bit numeric address written as four numbers separated by periods. Each number can be zero to 255. e.g. 71.6.174.16
The IP address space is managed globally by the Internet Assigned Numbers Authority (IANA), and by five regional Internet registries (RIR) responsible in their designated territories for assignment to end users and local Internet registries, such as Internet service providers. IPv4 addresses have been distributed by IANA to the RIRs in blocks of approximately 16.8 million addresses each. Each ISP or private network administrator assigns an IP address to each device connected to its network. Such assignments may be on a static (fixed or permanent) or dynamic basis, depending on its software and practices.
Want to learn more information on Wikipedia on IP Addresess
Also See our Knowledge base article on ARIN/RIR
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