How does IPv6 solve the problem of IPv4 address exhaustion?
Simply by having a lot more address space to uniquely identify devices that are connected to the Internet. IPv4 has a theoretical maximum of about 4 billion addresses whereas IPv6 has an unthinkable theoretical maximum: about 340 trillion, trillion, trillion addresses. In actual use, IPv6 addresses are structured for routing and other purposes and as a result the number of addresses available is effectively less, but still extremely large.