Administrative contact. A registrant usually designates an administrative contact to manage the domain name. The administrative contact usually has the highest level of control over a domain. Management functions delegated to the administrative contacts may include management of all business information, such as name of record, postal address, and contact information of the official registrant of the domain and the obligation to conform to the requirements of the domain registry in order to retain the right to use a domain name. Furthermore, the administrative contact installs additional contact information for technical and billing functions.
Many people may not know that a domain name can be registered at very reasonable prices, sometimes for as little as $.99 per year. In fact, the relatively low cost of domain name registrations can help businesses to register multiple domain names and build a domain name portfolio for use in promotional or brand-protection strategies. The key is to align your brand and relevant keywords to maximize the value your domain name can bring to your existing and future online presence.
The way that competition is supposed to work between registries, is that lots of companies go to ICANN and say “We think we can reliably manage .com, and we think it would cost us [$5] per domain.” ICANN reviews these bids and awards the .com contract, which lasts for a fixed period of time, to whomever they deem best-suited to the job. In this time, other companies can think of ways to manage .com better/cheaper, and try and win the next contract. This, in theory, would provide an incentive for registries to innovate, a big part of which would be in lowering costs.
While looking at domains, you might come across the name "ICANN" -- the Internet Corporation for Assigned Names and Numbers. This organization accredits some registrars that agree to a set of operational standards, but ICANN accreditation isn't required to sell domains, nor is it necessarily a sign of a company with good customer service. In fact, ICANN plays no role in the sale of many top-level domains, including country-specific domains.
Technical contact. The technical contact manages the name servers of a domain name. The functions of a technical contact include assuring conformance of the configurations of the domain name with the requirements of the domain registry, maintaining the domain zone records, and providing continuous functionality of the name servers (that leads to the accessibility of the domain name).
In the first quarter of 2015, 294 million domain names had been registered. A large fraction of them are in the com TLD, which as of December 21, 2014, had 115.6 million domain names, including 11.9 million online business and e-commerce sites, 4.3 million entertainment sites, 3.1 million finance related sites, and 1.8 million sports sites. As of July 2012 the com TLD had more registrations than all of the ccTLDs combined.
Who is in charge of all of these processes? Most countries manage a Network Information Center (NIC). An NIC is the main database that has all the information regarding what domain names have been registered and the IP address associated with each of those domains. The nonprofit organization the Internet Corporation for Assigned Names and Numbers (ICANN) is in charge of creating and managing the procedures for internet namespaces.
Not every registrar sells every top-level domain, so if you want an uncommon TLD like .pizza, you might have to try a few registrars. Unusual TLDs often cost more than a standard .com address, but provide built-in memorability and give you more name options, since far fewer .pizza addresses are already taken. You can check name availability at any registrar that offers the TLD you want.
Even when you register and pay for your domain name, you won't necessarily be able to use the name for several hours or even a few days. The domain must propagate, meaning that the official domain name registry must be updated with your website's Domain Name System information. That's something that occurs on the backend without any need of input from you.