Feb 08, · The first publicly used version of the Internet Protocol, Version 4 (IPv4), provides an addressing capability of about 4 billion addresses (). This was deemed sufficient in the early design stages of the Internet when the explosive growth and worldwide proliferation of networks were not anticipated. During the first decade of operation of the Internet,. Internet Protocol Version 4 (IP, IPv4) Even though the name seems to imply that it's the fourth iteration of the key Internet Protocol, version 4 of IP was . 4 February -- The online world is set for a broad change, after the last pack of web addresses of the Internet Protocol version 4 (IPv4) iteration, the format governing web locations since the early days of the net, was awarded yesterday, the Financial Times reports.