Jailbreak is the method by which Apple’s mobile operating system, iOS, is converted to manage unknown code in order to get access to applications that are not available through the App Store.
Basically, jailbreak give access to unauthorized app installers to your device iOS, such as Cydia, with will help you install many 3rd-party applications and various extensions. These applications introduce boundless possibilities to do things on your device that a regular device would never be able to do.
You will be able to run applications that provide access to iOS settings, eliminating Apple and some carrier’s restrictions, giving you more management over your Apple device. In conclusion, you can install and run anything you want on your device.
What are the jailbreak benefits?
The primary benefit for which you should jailbreak would be the possibility of installing 3rd party applications that you will not find in the Apple App Store. You will find a lot of apps that do not meet Apple standards giving you access to do stuff on iOS that Apple not accepts for different reasons.
For instance, Apple does not grant access to the customization by changing application icons or even the general interface of the device. However, because of the jailbreak community, you will find possibilities to totally change the way your device looks.
Besides apps, jailbreak also provides you several tweaks and extensions. These not quite considered applications. They bring subtle enhancements towards the way your iOS device works. For example, Five Icon Switcher is really a tweak that allows you've 5 icons within the iPhone app switcher at the same time, rather than the default 4.
Many people jailbreak their iPhone to be able to unlock and use a different carrier. When you wish to unlock your iPhone, the initial step would be to jailbreak it then run application that enable you to use other service providers.
Is jailbreak legal?
Yes! Jailbreak is totally legal. For very long time, jailbreak was considered illegal by the Federal Government according to copyright lawsuit. In summer of 2010, the Federal Government passed a guide that made jailbreak legal.

