The Verizon carrier update is a small file that is installed on iOS devices to update carrier settings. These settings include updates to features like tethering, Access Point Names (APNs), MMS settings, and default apps. It is recommended to have the most up-to-date carrier settings for the proper functioning of your device. These updates aim to enhance your device's performance, ensure optimal connectivity, and maintain a high level of security. Failing to update carrier settings may result in your device being unable to connect to all the services and features provided by your wireless carrier. Therefore, it is important to regularly update the carrier settings on your iPhone to stay connected with the latest technology and features offered by Verizon.