Is a unique numerical identifier assigned to every Network Interface on every Host and Router connected to a network that use this protocol for communication.
They are both used to identify devices and to locate those devices so that they can receive traffic directed to them.
Format
Each IPv4 address is 32 bits (4 bytes) typically written in dotted-decimal notation where each byte of the address is written in decimal form and separated by a period from other bytes in the address.
Examples
193.32.216.9, where 193 is the decimal form of the first 8 bits of the address and 32 is the decimal form of the next 8 bits of the address and so on.
In binary this address would be 11000001 00100000 11011000 00001001.