Plain meaning
Start with the shortest useful explanation before going deeper.
Executable and Linkable Format — the binary format used for deployed Solana programs. Rust source code is compiled via cargo-build-sbf into an SBF-targeted ELF binary (.so file) that the Solana runtime loads and executes. The ELF format contains the program's compiled bytecode, symbol tables, and relocation information. ELF binaries are uploaded to buffer accounts during deployment and then written to the program data account.