Plugin enabled
Images below the fold (the ones lower than window bottom) are not loaded. When scrolling down they are loaded when needed. Empty cache and shift-reload to test again. Compare this to page where plugin is disabled, same page with fadein effect, page with wide layout or wide content inside container.
$("img.lazy").lazyload();
<img class="lazy" data-original="img/example.jpg" width="765" height="574">
