Please don't give a one star rating when you don't understand why the addon asks for your IP and Hostname. Read the release notes before rating this addon. This is one of the best addons and it is open source - so you can have a look behind the scenes if you don't trust it.

In short:
The reason for the new IP and Hostname permission is to block more and advanced advertising:
https://github.com/gorhill/uBlock/releases/tag/1.25.0