There are two services that you need for a working web site - a domain and a web hosting plan for it. When you type the Internet domain in your browser, you see the content that’s uploaded in the hosting account, but if that Internet domain is not linked to such an account or to an email service, it is parked. In other words, the 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” page from the registrar company, or it could be directed to some other URL of your choice. The main benefit of parking a domain is that you can keep it and be sure that no one else will take it. In the meantime, it's not going to occupy a slot for a hosted domain within your account. You could also park domains if you have a .com, for instance, and you register domains with other extensions such as .net, .org or country-code ones to forward them to the main website so as to protect a brand name.