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To make domain names widely available, ICANN allows companies to apply for accreditation and become a domain registrar. These companies then compete with each other to sell domain name licenses which allows you to get better service and tools when you purchase your domain name.
The right to use a domain name is delegated by domain name registrars, which are accredited by the Internet Corporation for Assigned Names and Numbers (ICANN), the organization charged with overseeing the name and number systems of the Internet.
No one owns domain names; they merely pay for the use of them for a while. The public deals with domain name registrars, which often take the form of web hosting providers or other entities that provide online services. Users pay registries to register their domain names, but who do they register them with?
(B) Domain names and IP addresses are assigned randomly.
Domain structure. A complete domain name is known as a fully qualified domain name (FQDN). A FQDN states the exact position of a target computer within the tree hierarchy of the domain name system and is made up of two parts: the host name and the domain name.
Domain names are the unique, human-readable Internet addresses of websites. They are made up of three parts: a top-level domain (sometimes called an extension or domain suffix), a domain name (or IP address), and an optional subdomain.
The making of a good domain name It's a good idea not to exceed 2-3 words. You want people to remember your domain name and type it accurately. Complicated or uncommon words or names may be hard to remember and spell correctly. Relevant words help users find you in a search and recognize what you do at a glance.
A domain name takes the form of two main elements. For example, the domain name Facebook.com consists of the website's name (Facebook) and the domain name extension (.com). When a company (or a person) purchases a domain name, they're able to specify which server the domain name points to.