ICANN Approves New Domain Names System

ICANN approved the first sweeping changes in the 25 year old URL addressing system. But the new domains won't come cheap, with about $100,000 in costs per domain. The new process is simple. An applicant proposes the new domain, and if nobody raises an objection on grounds as racisms, trademark conflicts and similarity to another suffix, the name should be approved quickly. Also, countries will be able to have non-English characters in domain names as well.