Internet Protocol (IP) delivers packets between hosts using IP addresses. IP version 4 and 6 are the main versions, with IPv6 addressing increasing the address space to 128 bits. IPv6 addresses are classified as unicast for a single interface, anycast for a group of interfaces, or multicast for multiple hosts. IPv6 supports routing protocols and provides benefits over IPv4 like larger addressing, simpler headers, and improved security. Major organizations like Cisco and the U.S. Census Bureau are transitioning networks to IPv6 as IPv4 addresses become depleted.