Arca-Swiss is a dovetail plate standard named after the Swiss company that started it. A plate with that profile slides into any Arca clamp and locks. Leofoto, like many tripod makers, builds to it, and the LSC-50's jaw takes Arca plates as well as Picatinny rails.
Neither wins everywhere. Arca plates are smooth dovetails common on cameras and tripod gear, while Picatinny is the slotted rail found on many rifles and optic mounts. A hybrid clamp like this one means you don't have to pick: one clamp on the tripod holds either.
The two common kinds are screw-knob clamps, which you tighten by turning a knob, and lever-release clamps, which open and close with a flip. Lever clamps are faster to use, while knob clamps adjust to a wider range of plate widths. The LSC-50 is a lever-release clamp with a jaw that fits Arca and Picatinny.