There is a process running on my iOS device (7.1.2) called 'lsd'. The file is in /usr/libexec/lsd. What is it and what does it do?
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lsd in iOS is the LaunchServiceDaemon. It provides according to Apple
support for launching apps and matching document types to apps. As a result, the keys recognized by Launch Services allow you to specify the desired execution environment for your bundled code.
Despite the name nothing to worry about.