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A web service is something that a website chooses to offer to those who wish to read, update and/or delete data from your website. You might call it a "backdoor" to your data. Instead of presenting the data as part of a webpage it is provided in a pre-determined way where some of the more popular are XML and JSON. There are several ways to communicate with a webservice, some use SOAP, others have REST'ful web services, etc.
^ Mockapetris, P.V. (November 1987). "Domain names - concepts and facilities" (HTML). IETF Documents. IETF. doi:10.17487/RFC1034. Retrieved 24 July 2017. Relative names are either taken relative to a well known origin, or to a list of domains used as a search list. Relative names appear mostly at the user interface, where their interpretation varies from implementation to implementation, and in master files, where they are relative to a single origin domain name. The most common interpretation uses the root "." as either the single origin or as one of the members of the search list, so a multi-label relative name is often one where the trailing dot has been omitted to save typing.
A directory called UDDI (Universal Description, Discovery, and Integration) defines which software system should be contacted for which type of data. So when one software system needs one particular report/data, it would go to the UDDI and find out which other systems it can contact for receiving that data. Once the software system finds out which other systems it should contact, it would then contact that system using a special protocol called SOAP (Simple Object Access Protocol). The service provider system would first validate the data request by referring to the WSDL file, and then process the request and send the data under the SOAP protocol.
Web services are almost like normal a web page. The difference is that they are formatted to make it very easy for a program to pull data from the page, to the point of probably not using any HTML. They generally also are more reliable as to the consistency of the format, may use a different formal process to define the content such soap or raw xml, and there is often also a descriptor document that formally defines the structure for the data.

A web service is any piece of software that makes itself available over the internet and uses a standardized XML messaging system. XML is used to encode all communications to a web service. For example, a client invokes a web service by sending an XML message, then waits for a corresponding XML response. As all communication is in XML, web services are not tied to any one operating system or programming language—Java can talk with Perl; Windows applications can talk with Unix applications.
Secondly, the client application needs to know what the web service actually does, so that it can invoke the right web service. This is done with the help of the WSDL, known as the Web services description language. The WSDL file is again an XML-based file which basically tells the client application what the web service does. By using the WSDL document, the client application would be able to understand where the web service is located and how it can be utilized.
In 1993 the U.S. Department of Commerce, in conjunction with several public and private entities, created InterNIC to maintain a central database that contains all the registered domain names and the associated IP addresses in the U.S. (other countries maintain their own NICs (Network Information Centers) -- there's a link below that discusses Canada's system, for example). Network Solutions, a member of InterNIC, was chosen to administer and maintain the growing number of Internet domain names and IP addresses. This central database is copied to Top Level Domain (TLD) servers around the world and creates the primary routing tables used by every computer that connects to the Internet.
Many registrars also offer registration through reseller affiliates. An end-user registers either directly with a registrar, or indirectly through one or more layers of resellers. As of 2010, the retail cost generally ranges from a low of about $7.50 per year to about $35 per year for a simple domain registration, although registrars often drop the price far lower – sometimes even free – when ordered with other products.
A web service always hides the internal complexity of the service to its clients. For an example, an airliner which is selling tickets via a third party portal is only gathering end user info via a web service and in return it is providing ticket. The portal which is selling ticket doesn't have to bother about the internal complexity of the airlines ticket reservation systems. 

A directory called UDDI (Universal Description, Discovery, and Integration) defines which software system should be contacted for which type of data. So when one software system needs one particular report/data, it would go to the UDDI and find out which other systems it can contact for receiving that data. Once the software system finds out which other systems it should contact, it would then contact that system using a special protocol called SOAP (Simple Object Access Protocol). The service provider system would first validate the data request by referring to the WSDL file, and then process the request and send the data under the SOAP protocol. 

"All the standard Web Services works using following components:" ... the problem with this answer is that it suggests that web services do or must operate within the SOAP/WSDL mechanism. This is inaccurate. Representational State Transfer (REST) is another very popular paradigm for implementing web services. Some major websites have deprecated their SOAP services in favor of REST web services. – scottb Jul 7 '15 at 15:50
The Internet Corporation for Assigned Names and Numbers (ICANN) is the organization that governs the rules and regulations for domain name registrations. ICANN requires, for various reasons including to determine ownership of a domain should a dispute transpire, that a publicly accessible database be maintained that contains the contact information of all domain registrants. In layman's terms this means your domain name will be searchable by anyone and those search results will include your full name, physical address and other contact information. In order to protect your privacy in this regard, Domain.com offers WHOIS Domain Privacy which then masks your information using our own and implements a procedure for you to control who is able to then gain access to your contact information via a WHOIS search. Whenever you buy a domain name, no matter what domain name registration service you use, you are subject to the same ICANN rules, for this reason it is important to use a reputable service who cares about your privacy. Domain.com always recommends enabling WHOIS Domain Privacy.
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