One IP to rule them all.
Most internet users will have Dynamic Host Configuration Protocol (DHCP) turned on by default both for DNS and IP addresses. This protocol changes your IP address automatically, meaning you might stumble upon two different IP addresses for your system in two different days.
The DHCP makes it easier to set up a large number of systems, and it works just fine for the everyday user. If you’re looking to perform advanced tasks like using wake-on-LAN, you may be better off with a static IP.
You can also change DNS settings and activate DHCP again through the same panel.
You can configure your Subnet mask through this panel as well.
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