The Internet Corporation for Assigned Names and Numbers (ICANN) has approved a new plan to allow the registration of generic domain names.
This will allow people to register what ever domain sufix they want for their website. No more will you be limited to finding a .com, .com.au, .net, etc domain name.
Furthermore, people will be allowed to register domai names with non-latin characters, whcih will pave the way for international sites to use russian, chinese, and other unique characters.