The National Electrical Code is the guideline by which almost all municipal electrical codes are based from. With the laundry room being particularly dangerous because of the combination of electricity and water the code changed some of the standard requirements for powering electrical dryers. Existing homes were grandfathered in but new homes now have to be built to the new standard.
A full-sized consumer clothes dryer requires a dedicated 220V circuit that is located within 6 feet of the dryer. The pig tail, or electrical cord coming from the dryer, which is plugged into the wall now has four prongs on it. This is a change from the older three prong models. You can still purchase a dryer with the older style plug if that is what the electrical outlet in your home requires.
The three prong plug contains the ground and the neutral wire on the same prong. The four prong plug separates the ground and neutral into two separate prongs. The plugs work and act very similarly and you will never notice a difference if you have one or the other. The wiring is just a little different within the dryer cabinet. A three prong plug connects to a ground strap while the four prong plug doesn't.
It is possible to change from one pig tail to the other to match your outlet. It requires some experience and understanding of electricity but you do not need a professional electrician to make the change. Changing the wall outlet from a four prong to a three prong is against the code and not permitted. Changing from a three prong outlet to a four prong one requires a complete rewiring of that circuit, which can become expensive.