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. The second improved version made publicly available is IPv6.
These two versions are not compatible. You need both an IPv4 address and an IPv6 address if you want access to both systems.
We are currently in a transition to IPv6. Everybody needs access with IPv4 to be able to connect with everyone else.
Today in 2026 about 45% of those with internet access can also use IPv6.
This is a very slow process which started around the year 2000.
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 will have your street address in their records. They assign your IP address and can match it to your real address.
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.