iPhone 4 users who have been waiting for the iPhone Dev Team to release a jailbreak for the iPhone 4, can now jailbreak their iPhone as Comex from the iPhone Dev team has released a browser based jailbreak for the iPhone 4 called JailbreakMe.
In order to jailbreak your iPhone 4 you will need to go to the website jailbreakme.com from the Safari browser on your iPhone 4.
The new jailbreak is unlike previous versions as it is 100 percent browser based and doesn’t require you to install any software on your computer. If you intend to use the JailbreakMe tool it should be noted that some users have had problems with FaceTime and MMS after using the tool, although there is apparently a fix on the way for this.
You can find out more details over at JailbreakMe.
via Apple Insider
It seems that the issues with MMS and FaceTime have now been fixed, more details at the link below.