Elo system was replaced by current ranked system. The ranked system allows you to raise in the ladders showing your skill level (approximately after ~200 games)
Bytelight wrote:
ok thanks!
is a a numerical value? Like, can you tell someone exactly how much you have?
Yes, the Elo system is originally a rating system invented for Chess which was extrapolated to League of Legends. Riot Games eventually tossed the system to make place for the system we currently have however within the LoL scene, Elo has become a term that's interchangable with Rating. So 'High Elo' would define a high rating.

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Im Bytelight, a new lol player. I started mid december and I am currently level 10. I don't understand elo. What is it and how does it work?