Creating and assigning Elastic IPs

An Elastic IP address, also known as EIP is a static IPv4 address, which can be assigned to an EC2 instance. The Elastic IP address is generally used for covering the failure of an EC2 Instance by quickly remapping it to another EC2 instance. An Elastic IP address is allocated to an AWS account and can only be used in a specific region. That is, we cannot associate an Elastic IP address allocated in one region to an EC2 instance in a different region.