The Internet Protocol specifies the format and address scheme of information packets sent over the internet. IP allows you to label a package with the destination address of the receiver and have the network carry the packet to that destination, but there's no direct link between sender and receiver (IP is a 'connectionless' protocol). When combined with specific higher-level protocols – such as Transport Control Protocol (TCP) – a virtual connection is established between two hosts so that they can reliably send messages back and forth.
The current version of IP is IPv4. A new standard, IP version 6 (IPv6), is now being introduced in products and networks. IPv6 incorporates functions essential for building scalable and cost-effective IP networks. New services, such as interactive multimedia, require users to be 'always connected-always reachable.' IPv6, with its very large address space, will guarantee a globally unique IP address for each connected device.