DHCP is an acronym that can contain many meanings which are listed below.
DHCP – Dynamic Host Configuration Protocol
There may be many popular meanings for DHCP with the most popular definition being that of Dynamic Host Configuration Protocol
More DHCP Definitions
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DHCP allows a computer to join an IP-based network without having a pre-configured IP address. DHCP is a protocol that assigns unique IP addresses to devices, then releases and renews these addresses as devices leave and re-join the network.
This is what I understand about it anyway.