The channel name is a unique identifier of your channel on this and all the other instances. It's as unique as an email address, which makes it easy for other people to interact with it.
You can subscribe to the channel via any ActivityPub-capable fediverse instance.<x id="LINE_BREAK" ctype="lb" equiv-text="<br/>"/><x id="LINE_BREAK" ctype="lb" equiv-text="<br/>"/> For instance with Mastodon or Pleroma you can type the channel URL in the search box and subscribe there.