IPv4 currently uses 32-bit addressing which provides 4 billion IP addresses, but this limited number is running out as internet usage grows. IPv6 was developed to replace IPv4, using 128-bit addressing to provide an enormous number of IP addresses to meet future needs. IPv6 addresses are written as eight groups of four hexadecimal digits separated by colons. While IPv6 will solve the IP address exhaustion issue, transitioning the global internet from IPv4 to IPv6 will require significant changes.