Which of the following best describes IPv6?

IPv6 is designed to address the limitations of its predecessor, IPv4, particularly in terms of address space. The primary enhancement of IPv6 is its significantly larger address space, enabling a vastly greater number of unique IP addresses. Specifically, IPv6 uses 128-bit addresses, allowing for approximately 340 undecillion (3.4 x 10^38) individual IP addresses. This expansion is essential to accommodate the growing number of devices connected to the internet, especially with the adoption of IoT (Internet of Things) technologies.

The other options reflect misconceptions about IPv6: it doesn't consist of 32-bit addresses, which are characteristic of IPv4. IPv6 is not deprecated; it has been developed to replace IPv4, not to be deprecated in favor of it. Additionally, it does not use a 16-bit address space; that format is also far too limited, as it would only allow a small number of unique addresses. Therefore, the notion that IPv6 provides a larger address space than IPv4 is critically important in understanding its purpose and functionality in modern networking.