What is LILO?
LILO stands for LInux LOader. LILO is a Linux Boot Loader that loads Linux Operating System into the main memory to begin execution. Most of the computers come with boot loaders for certain versions of Windows or Mac OS. So, when you want to use Linux OS, you need to install a special boot loader for it. LILO is one such boot loader.
When the computer is started, BIOS conducts some initial tests and transfers control to the Master Boot Record. From here, LILO loads the Linux OS and starts it.
The advantage of using LILO is that it allows fast boot of Linux OS.