is that it’s the fourth version of the internet protocol. IP, which stands for internet protocol, is the internet’s principal set of rules for communications. IPv4 was the first version of IP. It was deployed for production in the ARPANET in 1983. Today it is most widely used IP version. It is used to identify devices on a network using an addressing system.
The IPv4 uses a 32-bit address scheme allowing to store 2^32 addresses which is more than 4 billion addresses. Till date, it is considered the primary Internet Protocol and carries 94% of Internet traffic.
Understanding IPv4 addressing
An IPv4 address is a series of four eight-bit binary numbers separated by a decimal point. Although you may use any numbering system to represent a unique 32-bit number, most commonly you see IP addresses expressed in dot-decimal notation.
Some of the baggage IPv4 carries to extend the number of addresses does affect network speed. In the perfect IPv6 environment, IPv6 outperforms IPv4. However, the IPv6 network still requires work, and so depending on local architecture, IPv4 is often faster. An algorithm called Happy Eyeballs used by some browsers will test the speed of both network protocols and use the faster version.