DNS helps users get to a website; it also helps companies keep their websites searchable in search engines and being reachable in general. When a user wants to get to a website, they type in its name. However, the servers storing data about this website do not understand human-readable format.
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As mentioned previously, a domain name is simply your name on the internet or what people type in the browser URL bar when they want to visit your website. Examples of that would be Google. This unique string of characters will provide your website with a distinctive identity. Older domains, especially those that have a single-word name like insurance. Each registrar has its own standard renewal fee. Keep in mind that the renewal of the domain name depends on the domain registrar you choose, the TLD top-level domain you pick, and the length of time of your renewal. The top-level domain TLD is simply the last segment of a domain name or the short part that follows the dot. TLDs are also called domain suffixes.
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A shared web hosting service is a web hosting service where many websites reside on one web server connected to the Internet. This is generally the most economical option for hosting, as the overall cost of server maintenance is spread over many customers. By choosing shared hosting, the website will share a physical server with one or more other websites. The service must include system administration since it is shared by many users; this is a benefit for users who do not want to deal with it, but a hindrance to power users who want more control. In general shared hosting will be inappropriate for users who require extensive software development outside what the hosting provider supports. Almost all applications intended to be on a standard web server work fine with a shared web hosting service.