There are 2 services you'll need for a functioning site - a domain and a hosting plan for it. Each time you type the Internet domain in your Internet browser, you see the content that’s uploaded in the hosting account, but if that domain name is not linked to such an account or to an email service, it's parked. To put it differently, the domain address is registered and you're its owner, but it doesn't have any content of its own. Rather, it can open either a pre-made “Under Construction / For Sale” page from the registrar company, or it can be directed to some other URL of your choice. The main advantage of parking a domain is that you can keep it and be sure that no one else is going to take it. At the same time, it will not occupy a slot for a hosted domain name in your account. You could also park domain names if you have a .com, for example, and you register domains with other extensions like .net, .org or country-code ones to forward them to the main web site in order to protect a brand name.