A global internet body on Monday approved a plan to allow the creation of new website domain suffixes, the biggest change to internet's domain name system in years.
The Internet Corporation for Assigned Names and Numbers (Icann) plans to dramatically increase the number of Internet domain name endings -- called generic top-level domains (gTLDs) -- from the current 22, which includes such familiar domains as .com, .org and .net.
ICANN has opened the Internet's naming system to unleash the global human imagination. Today's decision respects the rights of groups to create new Top Level Domains in any language or script, said Rod Beckstrom, president and CEO of ICANN.
Internet address names can end with almost any word and be in any language. New gTLDs will change the way people find information on the Internet and how businesses plan and structure their online presence.
We have provided a platform for the next generation of creativity and inspiration, said Peter Dengate Thrush, chairman of ICANN's board of directors.
The cost to apply for the suffixes will be $185,000 and the companies are required to prove the legitimacy of the name they are buying, BBC reported.
ICANN will start accepting applications for the new internet domain names from January 12, 2012.