This isn’t enough for the needs of the internet as more addresses get taken up. The creation of IPv6 was necessary because there are only around 4 billion possible combinations of unique IPv4 addresses.
IPv6 is the newer version of IP addresses and is represented by 8 groups of 4 hexadecimal digits (for example: 2001:cdba:85a3:0370:0000:0000:3257:9652). It consists of 4 sets of numbers, ranging between 0 and 255, and would appear as something like “192.168.1.1”. When IP addresses were first created, all of them were IPv4. IPv4 and IPv6 are simply different versions of IP addresses.