The document discusses cuckoo hashing as a method for dynamic dictionaries that store key-value pairs while supporting efficient operations like addition, lookup, and deletion. It details the expected runtime of these operations as O(1) using weakly universal hashing and highlights that in this scheme, every lookup and delete takes O(1) worst-case time with space complexity of O(n). Additionally, it explains the concept of amortized expected time for insertions and the role of multiple hash functions in cuckoo hashing.