An Internet protocol (IP) address is a unique identifier for each computer on the internet. It allows routers to send data to the correct destination.
Ipv4 is the first version of the Internet protocol that was made publicly available. We are currently in a transition to a later version known as IPv6.
These two versions are not compatible. And so you need both an ipv4 address and an IPv6 address if you want access to both systems.
Eventually ipv4 will be retired. But that is a long way away in the future.
No, an IP address does not directly identify your street address.
However, your ISP can match your IP address to your street address in their records.
Depending on the jurisdiction you are in, they may have to retain these records for a period of time so that they can be accessed by law enforcement or by a court order.