A domain name also referred to as a web domain refers to a presence on the internet. It is used to replace the IP address of the server with a human-readable and identifiable set of characters, either on dedicated hosting or shared hosting solutions. Most domain names are company names, brand names or names of people or places. The shorter domains names are better, as they are easier to remember and type, although any domain names shorter than 5 characters are very difficult to come by and very expensive. There are also more than a hundred domain extensions available.