ICANN (Internet Corporation for Assigned Names and Numbers) is a nonprofit that coordinates the global DNS: it oversees the root zone and top-level domains, allocates blocks of IP addresses and accredits registrars.
ICANN does not manage the content of websites; it keeps the internet's identifiers unique. Through the IANA function it maintains the DNS root zone, publishes the list of delegated TLDs and hands regional registries ranges of IPv4 and IPv6 addresses. Its decisions follow a multistakeholder model involving communities, businesses and governments.
Several roles matter for the domain market:
It is ICANN's rules that decide how new top-level domains appear and on what terms domains are registered.