No, LORAN, which is short for LOng RAnge Navigation is a system of radio transmitting beacons. The beacons have a long range (as the name indicates) are land-based(?) and works in groups. The LORAN system on the aircraft counts the time it takes to receive the transmissions from the LORAN beacons (in the specific group), and by doing this, the system can calculate your position pretty well.
As we speak the LORAN beacons are being phazed out in most of the world.
The system was popular before the advent of the Inertial Navigation System (INS), and is quite obsolete judging by todays standards with GPS, IRS and of course the FMC, which calculates your position very accurataley by comparing Radio position, IRS position, GPS position etc
LORAN uses radio transmissions, while GPS uses satellites for position determination
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