This IP address is usually called the localhost address.
It has no advantages or disadvantages. localhost is a domain name that represents your computers local IP address.
If you are trying to connect to your own network or "localhost" Try typing in: 192.168.0.1 or 127.0.0.1 or http://localhost But typing in your Public IP address will not work Hope this answered your question
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TCP/IP can be verified as installed and operating by using the 'ping' command against the localhost address: ping 127.0.0.1 or ping localhost
the ip address 172.0.0.2 is the address private in a localhost who you can assign to devices such as routers, computers ... depending on the network configuration
Subnetting
Localhost is always IP address 127.0.0.1. This is also known as the loopback address because every machine uses this same address to refer to itself. You do not have to do anything special to set this up. That is; you do not require a DNS (domain name server) to resolve the localhost name to IP address 127.0.0.1 because it is "hard-wired". If you have a local webserver running, entering "localhost" or "127.0.0.1" in your browser will bring up the default page for that server. Other machine's on your network can also access your local webserver, but they must use your machine's local area address or the machine name to access it (if they use localhost they'll simply refer to themselves). If you do not have a webserver running, your browser will simply tell you that the web page is not available. Setting up a webserver is simply a matter of installing one. Consult the webserver documentation for information on configuring it.
Type "localhost" ( without quotes) into the server address.
Socket address
.localhost was created in 1999.