Question re: .cc domains

[followyourbliss]

Can I get an overview of domains that end in .cc? (not country code, but .cc domains) I've read various explanations of what they're intended for, and projections on popularity, but the opinions have been widespread.

I know that the .cc originally belonged to a country, but it was bought from them for more general usage. Whats it for and why do they cost more from the registrars? Opinions on future increased/decreased value? This has been a constant confusion for me, so any info I can get on this subject is much appreciated.

Thanks much.

Tanya