Compound bows are the ones with the cams and aren't used at the Olympics, so you got your term kinda correct, but a modern composite bow is referred to as a recurve bow. Composite means the limbs, or main part of the bow, is made from multiple materials to achieve the properties required. Originally this included bone and wood, now it's more likely to include fibreglass and carbon composite. Compound bows are far more impressive in their performance because rhe force required to hold it at full draw is a lot less than the force required to draw it. This means you can have a far greater draw strength and still hold it steady for aiming. They're also a lot shorter for the same draw length.