Domain name prices shot up after Verisign service hike

Registering and re-registering your domain names will become more expensive as Verisign, which manages the generic top-level domains and, increases the price of base registration fees.

Registrars such as Godaddy and Oneandone pay Verisign around £3.20 per dotcom domains per year and £1.90 for dotnet domains; the new rates will be 7 percent higher and are the second price rises since 2006.

Back then, ICANN (Internet Corporation for Assigned Names and Numbers) handed over the control of dotcom and dotnet domain names to Verisign, effectively extending a virtual monopoly which could see prices of domain name rise to 50 percent in the next few years to £4.50 per year.

Verisign argues that significant investments to beef up security measures and to sustain the growth of the traffic volume due to web connected wireless devices and other services, justifies the price hike.

The company is readying project Titan which will oversee a ten fold increase in its global internet infrastructure within the next 2 years, allowing it to handle up to 166 billion queries per hour.

In the UK, oneandone has also announced that prices of domain names would also be increased from £1.99 to £2.99 per year, a 50 percent price increase, due primarily to domain registries hikes.

Other domain registrars could follow soon suit and put up their prices.