IP ADDRESS STRUCTURE: Note: the terms multicast address and MSB are explained at the end. Every station on a PSN (packet switched network) that is based on the TCP/IP protocol (your computer is one, for example. Yes, we're referring to a host that is connected to the net) must have an IP address, so it can be identified, and information can be relayed and routed to it in an orderly fashion. An IP address consists of a 32 bit logical address. The address is divided into two fields: