A domain name is a Web address, such as godaddy.com, that is linked to an IP address (which represents a physical point on the Internet). When someone types a domain name into a Web browser, the requested Web page displays.
A domain name consists of a top-level and a second-level domain. A top-level domain (TLD) is the part of the domain name located to the right of the dot (godaddy.com). The most common top-level domains are .COM, .NET, and .ORG. Some other popular top-level domains are .BIZ, .INFO, .NAME and .WS. These TLDs have certain guidelines but are, for the most part, available to any registrant, anywhere in the world.
The part of the domain name located to the left of the dot “godaddy,” in this case is called the second-level domain (SLD) name. The second-level domain name is the “readable” part of the address and refers to the organization or entity behind the Internet address. Second-level domain names must be registered with an Internet Corporation for Assigned Names and Numbers (ICANN)-accredited registrar.