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OLTs are located in Verizon's central switching office; this equipment serves as the point of origination for FTTP (Fiber-to-the-Premises) transmissions coming into and out of the national Verizon network.
An OLT, in a nutshell, is where the PON cards reside. The OLT's also contain the CPU and the GWR and VGW uplink cards. Each OLT can have a few or many dozens of PON cards.
PON = Passive Optical Network
GWR = Gateway Router
VGW = Voice Gateway
Each PON card transmits 1490nm laser data signal to the ONT, and receives the ONT transmission of the 1310nm laser data signal. The one-way 1550nm laser video signal to the ONT is injected into the fiber at the CO.
More details can be found by following links in this thread: »What exactly *is* an OLT?