The acronym 'IPv4' represents Internet Protocol version 4, a foundational protocol in internet addressing. IPv4 allows devices to communicate over the internet by assigning a unique IP address to each device. This 32-bit address format can support approximately 4.3 billion unique addresses, essential for identifying devices on a network. However, due to the exponential growth of the internet, the limited address space of IPv4 is a challenge, leading to the development of IPv6, which offers a significantly larger address range. IPv4 remains widely used but faces increasing pressure as more devices connect online.