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A domain name is the internet address of a web site. Am sure, you are familiar with the internet as it's likely that you are reading this write up online.
Before you got to this to this website, you will remember that you typed something into your browser's address bar, and that's a domain name. A domain name comes in this format: yourname.com, for example google.com, if the your name is google.
Each time you try to view a website, what you type into your browser address bar is the domain name of the web site that you are trying to download.

Actually, a domain name can be compared to a sign post pointing to a particular shop on the street, however in it own case, a domain name points to the location of a particular document on the internet.

Due to the difficulty normally encountered in remembering IP address, the domain name was introduced. A domain name is assigned to each Internet Protocol Address ( IP Address which is a combination of numbers) inorder to create an easy way of reaching websites without the need to memorize IP addresses which is difficult.
The protocol software helps in translating a domain name into its IP address. For example, the domain name, google.com through the help of the protocol software will automatically locates the IP address of Google web site, when you enter the name in your browser address and send it.

There are many TLDs allocated to domain names on the internet. TLD is an acronym meaning "Top-Level Domain" and it's the last letters (usually three letters) after the dot(.) which ends a domain name.
The six major TLDs are : .com, .org, .net, .edu, .gov, and .mil. Comercial web sites have .com TLD reserved for them, .org for non-profit organisations, .net usually for companies with network solutions, .edu for educational institutions, .gov for governments, and .mil for the military. Other TLDs like .pro for professionals, .aero for aviation, .name for individuals to register their names, and there are also country TLDs like .uk for the United Kingdom, .fr for France, and .eu for Europe.

Today, ICANN (Internet Corporation for Assigned Names and Numbers), a non-profit organisation created in September 18,1998 is responsible for managing the assignment of domain names and IP addresses.
Also there are domain name registrars that help in registering domain names. With these domain name registrars, you can register your domain name and you will be charged depending on their registrar's registration fee and the TLD of the of your domain name. One of the best of these domain registrar online is Name cheap. They offer cheap domain name registration and one of the best service in the industry. Your domain name must be renewed before it expires for you to keep it, however you may decide to pay for some years in advance instead of making yearly renewal.
Domain name registrars also offer some other services apart from domain name registration which may include : web hosting service, domain name transfer, domain name parking, email forwarding, and many more. You may pay for any of these services separately if you need it, or they may even come as a complete package with your domain name registration.

The procedure for registering a domain name is quite easy as it does not require any technical knowledge. All that you have to do is to look for a domain name registration website. On this website you will find a space to type-in the domain name you intend to register, and then send it to know if the name is still available for registration. If your name is still available, then proceed to register it by following your registrar's instruction.
In the process of registration, you will have to provide information such as, your email address, phone number, mailing address and other necessary information as required by your registrar. Also you will be billed and you can pay by credit card or through any other payment alternative provided by your registrar.

Done! you are now a proud owner of an internet domain name, and you can can go on to use it for your website or do whatever you like with it. You can go HERE for a cheap domain registration and other services.