iOS jailbreaking is practically a process easy to put the device iOS. If we are talking about iPhone AT&T 4, iPad, iPod touch or Apple TV, the current jailbreak solutions out there will release the device from the shackles of Apple and install custom software on it, not to mention of release, where available.
But is not yet available for all customers an untethered jailbreak and that is something the iPhone Dev Team has worked in recent weeks. Redsn0w 0.9.7, the final version (and so far we have seen some beta versions) to lighten the jailbreak your iPhone GSM 4, iPad and iPod touch running iOS 4.2.1 using files of iOS 4.1 instead of those iOS 4. SHSH BLOBS 2b3 that could not have been saved.
Nicknamed "Monte", the new version of Redsn0w is still in testing phase, but MuscleNerd has confirmed today that were used in the files of iOS 4.1 and the same technique will be brought to iOS 4.3 when it comes out.
As you have noticed, that I keep referring to the iPhone jailbreakable 4 GSM as the iPhone or AT&T 4 because, as you may be aware of, we have no idea if the CDMA or Verizon iPhone 4 will be easy to jailbreak. Current iOS devices (including past of iPhone and iPod touch versions) will be jailbreakable for life thanks to the bootrom exploit that prevents Apple deal with it. But the new devices, Verizon iPhone 4, iPad 2 or 5 of the iPhone will come with hardware revisions, most probably, block these attacks based on Limera1n.
Certainly we will keep you informed when it comes to iOS jailbreaking, although never recommend going for these procedures. There will also be waiting to unlock news as there are a lot of smartphone of iPhone 4 iOS 4.2.1 in the wild which cannot be unlocked just yet. So stick around, follow us on Twitter and bookmark us (instructions) to get around the jailbreak and unlock news delivered to you as quickly as possible.