What is Dynamic Host Configuration Protocol (DHCP), and what is it used for?

"Dynamic Host Configuration Protocol is a network management procedure used on the internet and local networks to find a website, computer, user, or another asset a computer user is looking for. The address of the asset is known as the Internet Protocol or IP address. A DHCP server dynamically assigns an IP address and other network configuration parameters to each device on the network. This allows them to communicate with each other as well as with other devices, nodes, or users on the network. You could think of DHCP as the computer's address book."