What is process lsd on iOS? 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?

Device info:

iPad 2 (7.2.1)
Jailbroken
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.