There are 2 services you'll need for a working site - a domain name plus a website hosting plan for it. Each time you type the domain name in your 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. Put simply, the Internet domain is registered and you are its owner, but it does not have any content of its own. Instead, it can open either a pre-made “Under Construction / For Sale” page from the registrar company, or it can be forwarded to some other URL of your choice. The advantage of parking a domain address is that you can keep it and make sure that no one else is going to take it. In the meantime, it's not going to block a slot for a hosted domain within your account. You may also park domain names if you have a .com, for instance, and you register domains with other extensions such as .net, .org or country-code ones to forward them to the main web site in order to protect a brand name.