The way in which domain names operate on the internet is similar to physical addresses in the physical world. Each part of the domain name provides specific information. These pieces of information enable web browsers to locate the website.
When you register a domain name, it gives you sole ownership and rights to that domain name for the term you have registered it. However, just because you have a domain name does not mean that you automatically have a website ready to show the world. To create and operate a website, you will need a domain name and website hosting.