IP address
An IP address serves two principal functions. It identifies the host, or more specifically its network interface, and it provides the location of the host in the network, and thus the capability of establishing a path to that host. Its role has been characterized as follows: "A name indicates what we seek. An address indicates where it is. A route indicates how to get there."
The header of each IP packet contains the IP address of the sending host, and that of the destination host.
IP address
The IP address space is managed globally by the Internet Assigned Numbers Authority (IANA), and by five regional Internet registries (RIRs) 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.