IP (short for Internet Protocol) specifies the techincal format of packets and the addressing scheme for computers to communicate over a network. Currently there are two versions of Internet Protocol IPv4 and IPv6. Newer version is IPv6 and was created to replace current version IPv4. Also IPv6 is called IPng. It was designed as an evolutionary upgrade to the Internet Protocol and will, in facet, coexist with the older IPv4 for some time. It is also designed to allow the internet to grow steadily, both in terms of the number of hosts connected and the total amount of data traffic transmitted.