the guardian: Web addresses in multiple languages

The internet regulator Icann has approved plans to let web addresses be written in non-Latin characters – such as Mandarin, Arabic, Hindu or Russian Cyrillic script – that it says represents the “biggest change” to how it works since its invention 40 years ago…read on

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Does that mean that existing domains will just be translatable and hosting will be become more expesive or will there be another fight to buy even more domains per brand?