There are 2 services you need for a functioning site - a domain plus a web hosting plan for it. Any time you type the domain name in your Internet browser, you see the content that is uploaded within the hosting account, but if that Internet domain isn't linked to such an account or to an email service, it's parked. Put simply, the domain name is registered and you are its owner, but it does not have any content of its own. Instead, it can open either a pre-made “Under Construction / For Sale” Internet page from the registrar company, or it may be forwarded to some 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's not going to block a slot for a hosted Internet domain within 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 web site so as to protect a brand name.