Skip lists are data structures that speed up search by using multiple levels of linked lists. We start searching from the top-left node at the highest level. At each step, we compare the target value with the next node's value. If the next node is less than the target, we move right. If it is greater or equal, we move down one level. We repeat this until we reach the bottom level. To insert a new value, we find the correct position at the bottom level and insert the node. Then, we flip a coin to decide if the node should be added to the next higher level. This random promotion continues until the coin flip returns tails or the maximum level is reached. This probabilistic approach keeps the skip list balanced and allows fast search, insertion, and deletion on average.