There are two services you need for a working site - a domain name and a website hosting plan for it. If you type the domain address in your browser, you see the content that’s uploaded in the hosting account, but if that Internet domain isn't linked to such an account or to an email service, it is parked. To put it differently, the domain address is registered and you are its owner, but it doesn't have any content of its own. Instead, it can open either a pre-made “Under Construction / For Sale” webpage from the registrar company, or it could be directed to any other URL of your choice. The benefit of parking a domain address is that you can keep it and make certain that no one else will take it. In the meantime, it won't occupy a slot for a hosted Internet domain inside your account. You could also park domains if you have a .com, for example, and you register domain addresses with other extensions such as .net, .org or country-code ones to direct them to the main web site in order to protect a brand name.