George Hotz, the popular PS3 and iOS hacker who is responsible for a number of hacks on the two platforms in the past is out with a video that demoes a Sony PlayStation 3 that has been jailbroken to run a custom version of firmware 3.55. But before you get excited, we must point out that this is merely a demo video at this stage and an actual jailbreak software is yet to be released. GeoHot has refused to offer an estimated time for release at this stage.
You can watch the video demo here.
For those looking for a background to this story, German hackers fail0verflow had recently released an exploit that they claimed could let users decipher the digital signature that Sony encrypts on its Playstation devices. This signature is used by the device to authenticate applications before they are run. GeoHot had earlier this week used this exploit to make the security keys of Sony PS 3 public. Now that a demo video is out, you must expect a jailbreak application shortly.