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What does "dynamic allocation" refer to when it comes to computing?
"Alternatively referred to as a heap allocation; when referring to computer memory, a dynamic allocation is the computer memory process of allocation and de-allocation segments of memory.
When referring to a network or network device, dynamic allocation or a dynamic IP address is the automatic assignment of an IP addresses by the network. For example, an IP addresses being assigned by DHCP."
You can also check: http://en.wikipedia.org/wiki/Dynamic_memory_allocation