There will be no untethered jailbreaks until iOS 5

Hello iPhone users, if you happen to have an iPhone on iOS 4.3.5 (or 4.3.4) and you don't have your SHSH blobs saved to downgrade to iOS 4.3.3, we want to let you know that there won't be an untethered jailbreak for these firmwares. So, if you want to jailbreak, you'll have to reboot using a computer and Redsn0w because the only jailbreak available will be the current one: the tethered jailbreak.

It seems that the hackers have decided (quite rightly) to save their exploits for iOS 5, which will be released in a couple of months.

 

 

 

 

 

 

As you know, it is possible and will be possible to jailbreak iOS 5 with the Limera1n exploit, but it will be tethered, so a software exploit will be needed to make it untethered, and if they released it right now it would be locked for iOS 5.

On the other hand, the iPad 2 and iPhone 5 will need a bootrom (hardware) exploit to ensure jailbreaking, since if one is achieved via software it will be quickly shut down with an update, just as happened with the iPad 2.

Source: iDB