It is clear that limited slip differential is much more usable in racing cars than standard open differential, which is good tool to increase driveability, but cannot distribute the maximum power in performance conditions or on surfaces with different adhesion on right and left wheel.
Plate LSD contains mechanism with ramps on pressure rings and cross shaft and steel plates that work as a clutch. As the car accelerates, the cross shaft is pushed to the the ramps of the pressure rings. which are forced to move outwards and push the steel plates together. With increasing pressure between plates, the friction also rises and therefore the driven gears are increasingly bind together and is more difficult for them to spin at different rates.
Plate LSD vs Torsen
Torsen differential uses gears instead of steel plates to transfer the torque on wheels. It is good solution for street driving with it's precise power distribution and stability on curvy roads. However, Torsen is not very suitable for high performance purposes, because it can't provide such aggressive torque transfer, especially under extreme conditions. As opposed, plate LSD is able to send power sharply to the wheel with grip which leads to improved traction and it's also more tunable than Torsen. Moreover, it works very fast and provides advanced handling even in the tight curves at high speeds.