No that's not exactly what it is.
The /30 stands for the number of bits that belong to the network part of an ip adress. It is an expansion of subnetting. You probably know what classA,B or C stands for.
The addressing with /** gives you more opportunities to divide your network into subnets.
In this case you have 30 bit network adress and 2 bit host adress.
So in this network you will only have three bits for host adressing.
Now you have to subtract one address for the broadcast address(always the last address in a subnet) and one adress for the network adress(always the first address in a subnet.
This leaves you with one address for a subnet with /30.
Hope this helps,
busche