internet is managed by the icann

The internet is biggest network in world that connect the billions of device in the world by using internet protocol suite. Since the internet is founded has been controlled by the U.S. government’s commerce Department.  

After 47 years, this contract is seen to be end the news came in market that U.S. government giving the contract to manage the internet to ICANN.

ICANN:

The internet Corporation for assigned names and numbers was created by Department of commerce in 1998. It is nonprofit organization that is responsible to coordinating the maintenance and procedures of several databases related to the namespaces of the Internet thereby ensuring the network's stable and secure operation. It performs the actual technical maintenance work of the central internet address pool and DNS Root registers pursuant to the internet Assigned Number Authority function contract.

Since ICANN creation, it has been working how web addresses on the Internet are passed out and has been regulating the IANA. Now, it formally owns the IANA. 

Finally the U.S. Government say over that domain name system never sat well with rest of the world, especially after 2013 when Edwards Snowden shoe the scope of U.S. internet surveillance.

The Internet itself was designed to function without a central authority and has become a critical part of everyone's life, as well as for the global economic infrastructures.

How transition Affect?

Edward Snowden’s reveal of NSA worldwide surveillance program internet user don’t trust on the United States and they want to be internet free. Also father of ‘world wide web’ sir Tim Berners-Lee wants to be decentralized in order to eliminate middleman policy from all aspects of the web. The internet transition does not make any significant change for the internet users because the companies that oversee the top level domains like .com, .org and many more are follow the rule of United States and abide by US court orders.

 Depends upon these court orders, the US government has already shut down many websites it has declared that these did not follow the laws about drugs, intellectual property and others. Due to this in 2012 Kim Dotcom's Megaupload file-sharing website was also shut down.

The US government has also international corporation agreements with other countries requiring foreign registries to comply with US orders. The best example of that is KickassTorrents website.

Also US technology giants like Google, Facebook, Twitter, Yahoo, and Amazon all are come together to write a letter for a more globally controlled internet after Republican lawmakers in Congress tried to halt the transition. And Former top US national security officials, Michael Chertoff and James Cartwright, also support this transition to ICANN.