DHCP- Dynamic Host Configuration Protocol.
Suppose you have a small network and you want all the machines in the network to have an ip address,dns server address,gateway etc to be configured automatically at boot time, then DHCP can help you.
In this case the client machine is not configured with a static ip address but its configured in such a way that it goes and quries the DHCP server in the network for its IP address and other configs.
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