LOLA not a name, but technology. A low latency audio- and videoconferencing technology. The main advantage of LOLA is really low LATENCY, that is really important in musical performance. Most commercial  services produce latency around 200 milliseconds. LOLA's latency is on the level of 20-50 milliseconds depending on distance and configuration of network.
On the Internet2 Fall Member Meeting LOLA shown a result of 35 milliseconds that is equal to 35 feet(10.6 meters). This technology will give a great opportunities to musicians around the world.