<ul><li>Elastic IP Addresses (EIPs) in AWS are static IPs that can be reassigned to different instances dynamically.</li><li>EIPs help maintain high availability and reliability by masking instance failures and quickly remapping to another instance.</li><li>They ensure consistent DNS setup and can be used for load balancing and NAT gateways for outbound internet access.</li><li>The default limit for EIPs in an AWS region is 5, but it can be increased if needed.</li></ul>

Explaining Elastic IP Addresses in AWS

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