MyBB Community Forums

Earlier today I bought a new Host for my Mybb Forums, In the process of installing the forums I was told to enter my Database Server Hostname, knowing that Localhost is the name of the Database, I got an error saying that the Database Server Hostname was incorrect.

How can this issue be fixed?

Localhost wouldn't be the name of the database, it would be the name of the host.

You have Database Server Hostname - Name of the Database for the Host

and the Database name which is the Name of the Database such as Forums, or world.

Still what you've said did not solve my issue,

The host name is where the database is hosted. The database name is the file name of the database.