Everybody else here is entirely incorrect, and it's unbelievable to what a degree.
"LOL" is the signular form, and "LOLZ" is simply the plural.
Meaning "lol's" or more than one "lol".
Adding a lowercase "z" at the end (Proper form, LOLz, or LoLz to switch between capitals and lowercase as is commonly done by a number of prepubescent horny teens, namely girls) does not necessarily add another word to the acronym. Just like if I were to write to you about "STDs", I would not be talking about Sexually Transmitted Disease Succotash, but rather multiple Sexually Transmitted Diseases.
Here in teh intranets, teh misconsepshins are teh commonplace, LoLz.
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Вкажіть вашу поштову скриньку щоб отримати наші безкоштовні сповіщення зі Словом Дня (Urban Word of the Day) кожного ранку!
Листи надсилатимуться з firstname.lastname@example.org. Ми ніколи не надсилатимемо вам спам.
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