DHCP means Dynamic Host Configuration Protocol. It is a protocol that automatically assigns IP addresses to computers that are connected to a network. It can also be used to assign static IP addresses. DHCP is used in wireless access, and it is often used compared to Static IP.
A Static IP address is a dedicated IP address that has been assigned to a computer. This IP address is used by the user every time the computer log in to network and need an IP address. The IP stays the same throughout. The easiest method of achieving this is by configuring the network card to take the same IP.