Internet Protocol (IP) is becoming a dominant network layer protocol in the current network. Due to some limitations, mainly the shortage of address space in IP version 4 (IPv4), the newer version of the protocol named IPv6 is increasingly getting its popularity. But there is already a huge investment made towards the implementation of IPv4. Also, new applications have started developing using IPv6. So, there is a great confusion among users of IP based network whether to deploy IPv6 or stay back with IPv4. This paper is a general comparative study of both the versions of IP and intended to outline few scenarios that may be considered during the selection of IP version as a network layer protocol. The findings of this work are presented in the form of graphs which focus few positive sides of using IPv4. The advantages of IPv6 over IPv4 are tabulated to realize the benefits of using IPv6 as well. The conclusion drawn from the work carried out may be considered as a basis for the proper selection of the different versions of the protocol.

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