Elastic IP

EIP stands for Elastic IP. It is a static, public IPv4 address that can be assigned to a cloud resource, such as an instance in a cloud computing environment, and then quickly reassigned to another resource if needed.

An EIP is called "elastic" because it can be easily allocated and released, allowing it to be quickly reassigned to another resource in the same region. This makes it useful for scenarios where resources need to be replaced or scaled up or down on demand.