An electrolyte is a substance which dissociates free ions when dissolved (or molten), to produce an electrically conductive medium. Because they generally consist of ions in solution, electrolytes are also known as ionic solutes. They are sometimes referred to in abbreviated jargon as lytes.
Electrolytes generally exist as acids, bases or salts.
An electrolyte may be described as concentrated if it has a high concentration of ions; or dilute, a low concentration of ions. If a high proportion of the dissolved solute dissociates to form ions, the solution is strong; if most of the dissolved solute remains un-ionised, the solution is weak.
The properties of electrolytes may be exploited via electrolysis to extract constituent elements and compounds contained within the solution.
Source: Wikipedia