Final answer:
The encoding scheme capable of representing the characters of many languages is Unicode, which can encode over 1 million characters for global compatibility.
Step-by-step explanation:
The encoding scheme extensive enough to represent the characters of many of the languages in the world is Unicode.
Unicode is a computing industry standard designed to consistently encode, represent, and handle text expressed in most of the world's writing systems.
With a capacity to encode over 1 million characters, it encompasses virtually every script and language family, including Latin, Cyrillic, Han (which covers Chinese, Japanese, and Korean characters), and many others.
Through the use of a system known as UTF-8, UTF-16, or UTF-32, Unicode provides a unique number for each character, which ensures worldwide compatibility and uniformity in text representation.