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binary code (Photo : Reuters)

IPv4 Internet Addresses, an old-school IP version, will run out this summer in North America. This will require several companies in the United States and Canada to switch to an IPv6 address.

IP addresses are the "telephone numbers" of the Internet that surfers access anytime data is transmitted over the Internet, according to The Australian. The process is less visible than top-level domain names that end in ".com" for example.

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Some companies could delay the Internet addresses running out, by forfeiting their unused US IP address or Canada IP address. However, other online businesses will have to upgrade their Internet technology.

The IPv6 IP address class is already widely used. So when several companies upgrade their U.S. Internet address, an Internet meltdown is highly unlikely, according to Engadget.  For example, Facebook has already smoothly switched several of its servers to the newer IP address standard.

Several tech giants are already buying and selling the old addresses like stock shares. Amazon.com bought four million IP addresses in January, Microsoft picked up eight million addresses recently, and Merck & Co. has sold seven million IP addresses over many years.  

However, smaller companies might have some problems upgrading to a newer IP address class.  Waiting to buy IPv6 network hardware could be expensive.

Purchasing some old-style Internet addresses can be expensive based on the laws of supply and demand. IPv4 addresses will soon be as extinct as dinosaurs.

The bottom line is that large websites and home Internet connections will unlikely be affected by the IPv4 phase-out. However, small websites could become costly to maintain.