Vue.prototype.$loading({ lock: true, text: 'Loading', spinner: 'el-icon-loading', background: 'rgba(0, 0, 0, 0.7)' });

This code creates a global method called `$loading` in Vue's prototype. When called, it shows a loading overlay with a locked background, a text that says "Loading", a spinner icon, and a semi-transparent black background. This is using the `ElementUI` library's loading component.