inetnum: 2800:350::/32 status: allocated aut-num: N/A owner: Cable & Wireless Panama ownerid: PA-CWPA-LACNIC responsible: Cable and Wireless Panama address: 0834-00659, Panama, 9A, address: 083400659 - Panama - - country: PA phone: +507 2696181  owner-c: CAP3 tech-c: CAP3 abuse-c: CAP3 created: 20090529 changed: 20090529 nic-hdl: CAP3 person: Russell Bean e-mail: networks@CWPANAMA.NET address: Apartado 659, PA, address: 9A - Panama - country: PA phone: +507 882 2200  created: 20030416 changed: 20130509
IP address ranges, or netblocks, are groups of related IP addresses. They are usually represented as a base IP address, followed by a slash, and then a netmask which represents how many IP addresses are contained within the netblock. This format is known as CIDR. You'll also sometimes see netblocks given as a start ip address, and an end ip address, or an ip address range.
Traffic works its way around the internet based on the routing table, which contains a list of networks and their associated netblocks.