Frames are quite often used to hide the actual address (URL) of the page being viewed. The URL of the home page stays in the address bar all the time. This technique is also called address masking, or stealth redirection. If the user follows links on the page and the URL stays the same it's for the user impossible to pass on the address of the page he/she is visiting to someone else using email or an instant messenger for example. It kills the whole idea behind uniquely addressing resources.
Read the rest of Address hiding with Frames.
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