What happens to a domain if you stop paying?
I'm curious, what exactly happens to a domain name if an individual or company decides to stop paying for it? Does the domain become immediately unusable? Or does it go through some sort of process before being released or reassigned? Also, what are the potential consequences of not renewing a domain name? Could it be taken over by someone else? And if so, what steps can be taken to prevent such a situation? I'm interested in understanding the full scope of what happens when a domain's payment is discontinued.