I also found an explanation in blogger at http://bit.ly/1TiXBis but that didn't help my case.
So, goto your domain host such as Godaddy or Netfirms. Then open the section called as 'Domain Name System', 'DNS Management' or 'DNS' etc in your Domain Control Panel.
Now look for a section called as Address Record aka 'A Record.'
Then open your terminal or shell and ping your blog address as below:
After pinging you should get an IP address as: '22.214.171.124'
Copy/Paste this IP address and paste it in the Value box of your A Record as shown in the image below:
Save and exit.
It should work now else please allow sometime, a few hours and check again.