When Apple launched iOS 4.1 last week, shortly after (meaning just a couple of hours after), a new exploit was found that could easily allow iOS 4.1 devices to be jailbroken.
The interesting details about this exploit is that it’s low level which means that a software fix by Apple cannot fix it. To secure the iPhone 4 from being jailbroken Apple will need to release a new hardware revision.
Apple is probably around 6 months away from creating the next iteration of the iPhone which means that all who buy an iPhone 4 should be able to jailbreak the phone regardless of what iOS is pre-installed on it.
According to details found by Redmond Pie on Twitter, the exploit called SHAtter is in the bootrom section along with Pwnage 2.0 and 24kpwn. Problems that exist here at the moment is that jailbreaking requires a tethered boot which might put a number of people off from using this particular exploit. However, if you do opt to use the jailbreak when it is released, it should offer a jailbreak for life with it being a hardware exploit.
Both the Chronic Dev Team and the iPhone Dev Team are working on making the jailbreak public. The launch date is currently unknown although we could see it before the end of the month.