As many of us continue to wait for a stable release of an untethered jailbreak for current generation iPhones, iPods, and iPads on firmware 4.2.1, the iPhone Dev Team has announced that they are already at work on a jailbreak for the Verizon iPhone.
The team has been working on a jailbreak for firmware 4.2.5 (first seen on the Verizon iPhone 4) and 4.3 beta, which was just released to developers by Apple on Wedenesday. However, Dev Team member MuscleNerd has posted on his twitter that nothing will be released until after the current firmwares are out of beta, simply because "Most people can't take advantage of betas." We also suspect that it has something to do with the fact that they want to be extremely careful about the exploits they find, so that Apple will not patch them up before the update is released.