What is an IP address?
Every device on the internet needs a unique address so that data knows where to go. An IP address is that identifier, a numerical label assigned to every device connected to a network.
IPv4: the original system, running out of space
IPv4 addresses look like this: 192.168.1.1, four sets of numbers between 0 and 255 separated by dots. This format allows for approximately 4.3 billion unique addresses. With smartphones, laptops, tablets, smart TVs, IoT devices, and servers all needing addresses, 4.3 billion has been exhausted globally. We have been running on workarounds for years, primarily NAT, where your broadband provider assigns one public IP address to your whole household and your router creates a separate internal network.
IPv6: the replacement system
IPv6 addresses look like this: 2001:0db8:85a3:0000:0000:8a2e:0370:7334, considerably longer and using hexadecimal notation. This format allows for 340 undecillion unique addresses, effectively limitless for any foreseeable future demand.
Does this actually affect my broadband experience?
For most home users, the transition from IPv4 to IPv6 is happening gradually in the background and you will notice essentially nothing. Modern devices, routers, and operating systems handle both protocols transparently. Speed is unaffected and most practical aspects of using the internet are unchanged.