IPv4 and IPv6 are the two formats of IP addresses. IPv4 is a 32-bit format that can form up to 4,294,967,296 combinations. It is a numeric addressing method that uses a dot (.) to separate its binary bits. It offers 12 headers and uses address resolution protocol (ARP) to map IP addresses.
Since the internet and crypto boom, the volume of devices on the internet is growing exponentially. To cope up with the need for IP addresses, in 1998 a new format was introduced named IPv6, a 128-bit format that features 2^128 (340,282,366,920,938,463,463,374,607,431,768,211,456) addresses. . It is an alphanumeric addressing method that uses a colon (:) to separate its binary bits. It offers 8 headers and uses neighbor discover protocol (NDP) to map IP addresses.
The two types of IP addresses are dynamic and static. Dynamic IP addresses are not specific to one user. Internet service providers assign specific addresses to each connected device that are reassigned to other devices when the previous one loses access to the internet. This constant change of IP addresses makes it harder for criminals to hack into your network interface. Static IP addresses remain consistent and are mainly used by businesses that want to host their own servers.