As a result of the introduction of new gTLD (generic Top-Level Domains) initiative to promote competition in the domain name market while ensuring Internet security and stability by ICANN (Internet Corporation for Assigned Names and Numbers) there are now almost 300 million domain names around the world. It is said that this will encourage multilingualism in cyberspace, help emerging economies and relate with the actual content of the site as a whole. The dominance of english in the web is expected to decrease and other languages to pick up as a result of this transition.
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