can anyone explain to me the purpose of this file? When I rooted my phone, I followed the instructions without fully understanding what they did. I am now trying to learn.
Think of it like the bios of a PC. Not exactly correct, but the analogy works. Hboot allows you to boot into recovery, which once rooted and flashed with a custom recovery, allows you to load custom roms perform backups, restores, wipes and a bunch of other utilities.