There are 2 services you'll need for a functioning site - a domain and a web hosting plan for it. If you type the domain in your web browser, you see the content that is uploaded in the website hosting account, but if that Internet domain is not linked to such an account or to an email service, it's parked. Put simply, the domain address 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” Internet page from the registrar company, or it can be directed to some other URL of your choice. The main benefit of parking a domain name is that you can keep it and make sure that nobody else is going to take it. At the same time, it's not going to block a slot for a hosted domain in your account. You could also park domain names if you have a .com, for example, and you register domains with other extensions such as .net, .org or country-code ones to direct them to the main website in order to protect a brand name.