An IP address, which stands for Internet Protocol Address, is a numeric code that typically serves as a unique identifier for a specific computer on the Internet. It is formatted as a 32-bit numeric address, represented as four 8-bit octets of numbers, each separated by dots. Each octet contains a number ranging from 0 to 255. The first group falls between 1 and 255, while the subsequent groups can vary from 0 to 255. These IP addresses are organized into subnetworks, known as subnets, which consist of 4-number IP addresses. Subnets can belong to different classes, each of which specifies how many IP addresses are within one subnet.

The classes of subnets include:

1. Class C: In this class, the first three octets are identical. For example, the following IP addresses belong to the same Class C subnet: 4.4.3.5 and 4.4.3.118.

2. Class B: In Class B, the first two octets are the same. For instance, 4.4.3.5 and 4.4.7.45 belong to the same Class B subnet.

3. Class A: Class A subnets share the same first octet. For example, 4.2.4.6 and 4.87.97.110 belong to the same Class A subnet.

Additionally, there are classless subnets that are utilized to separate subnets that don’t conform to the A, B, and C classes. Various subnets are designated for private use and are not routed on the internet. These are referred to as private networks and include IP ranges such as 192.168.0.0/16, 172.16.0.0/15, and 10.0.0.0/8. These private networks are suitable for local area networks (LANs), while other IP ranges are intended for public use on the Internet or wider area networks (WANs).

IP addresses can be categorized as static (permanently assigned and associated with a specific device) or dynamic (temporary addresses that change each time you connect to your Internet Service Provider, often used in dial-up or DSL networks). The currently prevalent IP standard is known as IPv4, based on the number of octets. However, a newer standard, IPv6, is being implemented and is intended to replace IPv4. Several regional Internet registries, including ARIN, RIPE NCC, LACNIC, and APNIC, are responsible for assigning Internet addresses across these classes.