setting up mailserver on virtual vm "cannot find your reverse hostname"

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All,

new to this so my apologies for asking a question that might have a simple answer.

In the process of setting up a postfix mailserver on an oracle cloud VM. To have this VM communicate with the outside world a reverse hostname needs to be set up for the IP.

A "permanant" IP was set up and working. Just wondering, is it possible to have a reverse hostname assigend to this IP or is this outside of the scope of the Oracle cloud service?

Thank you for an answer in advance.