Significance of BUSY LED

what is the significance of the busy led??
if the busy(green) led is blinking or is steady while we are using bolt, what does it mean?
also when the busy led is on, the webpage is not displayed after typing the ip address of bolt in the browser

The Bolt communicates via HTML requests and the busy LED means that the bolt is currently executing a request. Also, it processes those requests one at a time (It’s really bad at multitasking). So if it is busy doing something, it won’t do anything else, like grandma.
That’s why it doesn’t acknowdelge your web request when it’s busy.
The best way to avoid lags that occur due to this is the try to processes as much as possible on the clients browser, and request for any necessary data using the parameters.