A PURL is a Persistent Uniform Resource Locator.
Functionally, a PURL is a URL. However, instead of pointing directly to the location of an Internet resource, a PURL points to an intermediate resolution service. The PURL resolution service associates the PURL with the actual URL and returns that URL to the client. The client can then complete the URL transaction in the normal fashion. In Web parlance, this is a standard HTTP redirect.
Since I needed a (free) static alias for my homepage URL, I did some searching and this came as the best choice. Does anyone have a better solution? :D