It is a completely free application that displays your current connectivity status, public IP addresses, DNS servers, Wi-Fi and cellular network information with many features such as:
IP Geolocation where you can get your public IP geographic area such as county, city, zip code, internet service provider (ISP) and estimated location coordinates with high accuracy. This can be compared to the GPS coordinates on your device
IPv4 information is a quick way to get specific information about any public IP in the world, including estimated location, service area, ISP name, Autonomous System Number (ASN), announcements, and more.
Also with the ISP. Ping you can check the ICMP reachability of any host on the internet.
These are indicative of some of the possibilities of the application, of course it includes many more waiting for you to explore them.