Why it matters
IANA is the source of record for top-level domains. Its root zone database shows each extension, its manager and its technical details. The IANA functions are run by an ICANN affiliate. When someone asks who really operates .ai or .net, the IANA record answers it. It is a useful check when a buyer wonders if a new extension is real. A common mistake is thinking IANA sells domains or settles disputes. It does neither. It publishes the registries that others rely on.
Source: iana.org