The root is the upper-most part of the DNS hierarchy, and involves delegating administrative responsibility of “top-level domains”, which are the last segment of a domain name, such as .com, .uk and .nz. Part of our tasks includes evaluating requests to change the operators of country code domains, as well as day-to-day maintenance of the details of the existing operators.
Sedo is where I bought my domain - over Escrow - and is a global marketplace to buy, sell, and park domain names. They've over 18 million domain names for sale, but the big part is that they're a huge, well-respected company. This may not be important if you're spending $150 on a domain, but in a $15,000+ purchase - which happens in many cases - you will be potentially buying from a foreign entity, that you don't know, and many of them will suggest an escrow payment. This means you put the money in an account owned by a third party that will hold it and only pass it on once the domain has been transferred over into their name (which in this case is what Sedo does). This can be quite disconcerting - but Sedo is well-known and has done many, many deals - and the process is about as full of hand-holding as handing tens or hundreds of thousands of dollars for a domain name can be.
Registries and registrars usually charge an annual fee for the service of delegating a domain name to a user and providing a default set of name servers. Often, this transaction is termed a sale or lease of the domain name, and the registrant may sometimes be called an "owner", but no such legal relationship is actually associated with the transaction, only the exclusive right to use the domain name. More correctly, authorized users are known as "registrants" or as "domain holders".
Official marketplaces offer a third possibility for domain traders to peddle their product. Domain marketplaces, such as Sedo, GoDaddy.com, or BuyDomains.com, link potential buyers with domain holders hoping to sell their prized virtual property. These platforms function as a kind of domain real estate agency and are known to demand somewhat high prices for their services.
GoDaddy used to be a place I'd recommend only as a joke, but has significantly improved their service. They'll recommend you domains based on certain keywords, which is useful if you've not got the one you want available (they'll actually remove these from the search to try and not break your heart), and they've also significantly improved their hosting offering. They still continue to offer weird things like "email services" that other hosting companies provide too. Our GoDaddy Review.
There are tons of great domain names available for registration and it can take as little as five minutes to register one at any domain name retailer. These online stores make it very easy for you to search for available domain names with name suggestion tools. They also offer complementary services, such as Web hosting and website design so you can register your desired domain name and set up a website all at once.