During this time period, many sailors and navigators believed that there was a water route called the Northwest Passage that ran from the atlantic ocean to the pacific ocean along the border of the modern u.s. and canada.
Cabot explored the canadian coastline and gave names to many of the islands and capes he found. cabot didn't find the water passage he was seeking and eventually had to return to england for supplies.
Some sources indicate that cabot was not aware of the true extent of his journey and believed that he had found both the northwest passage and that the land he had claimed as part of asia.