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127.0.0.1 is the IP (IPv4) address of your local computer, synonymous with localhost. If you are running a web server or something along that nature, and you type in 127.0.0.1 into the address bar, it will bring you to your webpage, if you are not running a server, it will just bring up the "Webpage Not Available" error in your browser.

You can also use the 127.0.0.1 address in your hosts file to redirect some unsavory sites to your local computer.

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Q: What is the 127.0.01 IP address and what is it used for?
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