Differentiate between private and public Internet protocol (IP) addresses. Explain the benefits of the private/public IP address scheme

What will be an ideal response?

Public IP addresses identify a particular device on the public Internet. Because public IP addresses must be unique worldwide, their assignment is controlled by a public agency known as Internet Corporation for Assigned Names and Numbers (ICANN). Private IP addresses identify a particular device on a private network, usually on a local area network (LAN). Their assignment is controlled within the LAN, usually by the LAN device.
The private/public IP address scheme has two major benefits. First, public IP addresses are conserved. All of the computers on the LAN use only one public IP address. Second, by using private IP addresses, users are protected from attackers directly attacking them because attackers cannot send attack packets to private IP addresses. Attackers can only send packets to devices with public IP addresses.