Domain names are basically the identity of a website in the virtual world of the internet. It is similar to the names given to each one of us, for identification. The only difference is that two human beings may have the same name, but two websites can never have the same domain names. The domain names are used in various ways, for identification, reference, uniform resource locators and they also appear after the ‘@’ sign in an e-mail address.
The naming of a domain is done through the DNS methodology. The DNS confers a unique name to a domain after the customary domain registration. The process of domain registration is done through the registrars. These registrars have the authorisation and accreditation of the Internet Corporation for Assigned Names and Numbers (ICANN). The ICANN is responsible for overseeing the process of the distribution of domain names and numbers for the internet.
Domain registration is done generally for a specific period of time. Generally the period of domain registration varies between one to ten years. The period of domain registration can be extended at any point of time before the end of the grace period.
The domain Name Registration system is an international process involving all the countries of the world. Once the domain is registered under the domain name registration system, the name cannot be altered. Although, a party can sell their domain to another, but again the second party has to get the domain registered under its name in the domain name registration system.
In the past few years, the whole process of domain name registration has been made simpler. Due to this simplification, we see many new domain spaces being bought and sold in the world market and this domain name registration has become a big business. Many individuals as well as big and small companies are coming forward to get their own domain space and to reach out to the world by developing their own websites.