There are 2 services that you’ll need for a working website - a domain and a hosting plan for it. Whenever you type the domain name in your web browser, you see the content that is uploaded within the website hosting account, but if that domain isn't linked to such an account or to an email service, it is parked. To put it differently, the Internet domain is registered and you are its owner, but it lacks content of its own. Rather, it can open either a pre-made “Under Construction / For Sale” webpage from the registrar company, or it may be directed to any other URL of your choice. The benefit of parking a domain name is that you can keep it and make certain that nobody else is going to take it. Meanwhile, it won't block a slot for a hosted domain address within your account. You could also park domains if you have a .com, for instance, and you register domain names with other extensions such as .net, .org or country-code ones to direct them to the main website as a way to protect a brand name.