There are 2 services you'll need for a working site - a domain plus a website hosting plan for it. If you type the Internet domain in your web browser, you see the content that’s uploaded inside the hosting account, but if that domain address is not linked to such an account or to an e-mail service, it is parked. In other words, the domain is registered and you're its owner, but it lacks content of its own. Rather, it can open either a pre-made “Under Construction / For Sale” page from the registrar company, or it could be directed to any other URL of your choice. The main benefit of parking a domain name is that you can keep it and make sure that no one else will take it. At the same time, it will not take a slot for a hosted domain inside your account. You could also park domains if you have a .com, for instance, and you register domain addresses with other extensions such as .net, .org or country-code ones to forward them to the main web site as a way to protect a brand name.