Final answer:
Network Address Translation (NAT) is the technique that allows private IP addresses to be translated to public addresses for Internet routing, playing a crucial role in the IP address allocation system.
Step-by-step explanation:
The technique that translates the private IP address of a computer to a public address for routing over the Internet is Network Address Translation (NAT). Developed along the expanding networks of the late 20th century, NAT plays a crucial role in how our modern-day Internet functions. As the Internet evolved from early private communication networks to a global system interconnecting millions of networks, the need for efficient IP address allocation became apparent. NAT helps mitigate the shortage of IP addresses by allowing multiple devices on a private network to share a single public IP address for accessing the Internet.
The other options listed have different roles in networking. Dynamic Host Configuration Protocol (DHCP) is used to dynamically assign IP addresses to devices on a network. The term Internet Protocol (IP) refers to the method by which data is sent from one computer to another on the Internet. Subnetting is a technique used to divide a network into two or more networks.