IPv6 is the next generation Internet Protocol that provides a vastly larger number of IP addresses compared to the current IPv4. It features 128-bit addressing which allows for trillions of devices to have unique IP addresses. IPv6 also aims to make networking more secure and allow for more efficient routing. The transition from IPv4 to IPv6 is underway, with most modern operating systems and network hardware now supporting IPv6, though applications support is still growing. IPv6's expanded addressing capabilities and additional features will help meet future demands on the Internet as more devices connect online.