Internet Protocol Tutorial

IP Address Notation - What Is An IP Address?
This tutorial explains the technology behind Internet Protocol (IP) networking. For those not interested in the technical aspects, skip to the following:

IPv4 and IPv6
Internet Protocol (IP) technology was developed in the 1970s to support some of the first research computer networks. Today, IP has become a worldwide standard for home and business networking as well. Our network routers, Web browsers, email programs, instant messaging software - all rely on IP or other network protocols layered on top of IP.
Two versions of IP technology exist today. Essentially all home computer networks use IP version 4 (IPv4), but an increasing number of educational and research institutions have adopted the next generation IP version 6 (IPv6).
IPv4 Addressing Notation
An IPv4 address consists of four bytes (32 bits). These bytes are also known as octets.
For readability purposes, humans typically work with IP addresses in a notation called dotted decimal. This notation places periods between each of the four numbers (octets) that comprise an IP address. For example, an IP address that computers see as
00001010 00000000 00000000 00000001
is written in dotted decimal as
10.0.0.1
Because each byte contains 8 bits, each octet in an IP address ranges in value from a minimum of 0 to a maximum of 255. Therefore, the full range of IP addresses is from 0.0.0.0 through 255.255.255.255. That represents a total of 4,294,967,296 possible IP addreses.
IPv6 Addressing Notation
IP addresses change significantly with IPv6. IPv6 addresses are 16 bytes (128 bits) long rather than four bytes (32 bits). This larger size means that IPv6 supports more than
300,000,000,000,000,000,000,000,000,000,000,000,000
possible addresses! In the coming years, as an increasing number of cell phones, PDAs, and other consumer electronics expand their networking capability, the smaller IPv4 address space will likely run out and IPv6 address become necessary.
IPv6 addresses are generally written in the following form:
hhhh:hhhh:hhhh:hhhh:hhhh:hhhh:hhhh:hhhh
In this full notation, pairs of IPv6 bytes are separated by a colon and each byte in turns is represented as a pair of hexadecimal numbers, like in the following example:
E3D7:0000:0000:0000:51F4:9BC8:C0A8:6420
As shown above, IPv6 addresses commonly contain many bytes with a zero value.Shorthand notation in IPv6 removes these values from the text representation (though the bytes are still present in the actual network address) as follows:
E3D7::51F4:9BC8:C0A8:6420
Finally, many IPv6 addresses are extensions of IPv4 addresses. In these cases, the rightmost four bytes of an IPv6 address (the rightmost two byte pairs) may be rewritten in the IPv4 notation. Converting the above example to mixed notation yields
E3D7::51F4:9BC8:192.168.100.32
IPv6 addresses may be written in any of the full, shorthand or mixed notation illustrated above.

source :http://compnetworking.about.com