There are 2 services that you need for a working web site - a domain plus a web hosting plan for it. Any time you type the domain name in your browser, you see the content that is uploaded inside the hosting account, but if that domain is not linked to such an account or to an email service, it is parked. To put it differently, the domain address is registered and you're its owner, but it does not have any content of its own. As a substitute, it can open either a pre-made “Under Construction / For Sale” page from the registrar company, or it could be directed to some other URL of your choice. The advantage of parking a domain name is that you can keep it and ensure that nobody else is going to take it. In the meantime, it will not take a slot for a hosted Internet domain inside your account. You may also park domain names if you have a .com, for example, and you register domain names with other extensions like .net, .org or country-code ones to forward them to the main site as a way to protect a brand name.