Glycolysis literally means the breakdown (lysis) of glucose and consists of a series of enzymatic reactions. Remember that the carbohydrates we eat supply the body with glucose, which can be stored as glycogen in the muscles or liver for later use.
The end product of glycolysis is pyruvic acid. Pyruvic acid can then be either funnelled through a process called the Krebs cycle (see the Oxidative System below) or converted into lactic acid. Traditionally, if the final product was lactic acid, the process was labelled anaerobic glycolysis and if the final product remained as pyruvate the process was labelled aerobic glycolysis.
However, oxygen availability only determines the fate of the end product and is not required for the actual process of glycolysis itself. In fact, oxygen availability has been shown to have little to do with which of the two end products, lactate or pyruvate is produced. Hence the terms aerobic meaning with oxygen and anaerobic meaning without oxygen become a bit misleading.
Alternative terms that are often used are fast glycolysis if the final product is lactic acid and slow glycolysis for the process that leads to pyruvate being funnelled through the Krebs cycle. As its name would suggest the fast glycolitic system can produce energy at a greater rate than slow glycolysis. However, because the end product of fast glycolysis is lactic acid, it can quickly accumulate and is thought to lead to muscular fatigue.
The contribution of the fast glycolytic system increases rapidly after the initial 10 seconds of exercise. This also coincides with a drop in maximal power output as the immediately available phosphogens, ATP and PCr, begin to run out. By about 30 seconds of sustained activity the majority of energy comes from fast glycolysis.
At 45 seconds of sustained activity there is a second decline in power output (the first decline being after about 10 seconds). Activity beyond this point corresponds with a growing reliance on the oxidative system.