How does Application.genuine work?

Does anyone know exactly what is behind the scenes of Application.genuine?

More specifically, I would like to understand its exact process so I can understand:

  1. If I can use it safely without “false negatives”.
  2. If it considers text (or other) assets stored in a Resources folder (e.g. my level config files).

Just for context, I want to say that my target platform is iOS and that this question does not intend to spark a discussion about app piracy.

  1. Yes.
  2. No.