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David from Geek This Net explains what a domain name is. It is used more than just pointing to websites. Companies use domain names to point to IP address (same method used for websites), but they are used for software, updates, and much more.
Using domain names is much easier, because you only need to update DNS records, to assign the domain name to a new IP address or location.
- Anyone Can buy a domain name. (Some TLD’s are not allowed).
- Some Countries lock their gTLD (such as .US or .UK) to businesses or residents of that country only.
- Most domain registrars don’t connect directly to ICANN, but go through a third party that handles the domain registrations to ICANN. For a long time Namecheap use to go through ENOM.
- The majority of TLD’s reserve domains under 3 characters. Some companies did get their hands on single letter domains early on before the restrictions.
- ICANN can remove the current register of a domain name if a dispute is filed and accepted. Such as Cybersquatting.