One reason why people jailbreak their iPhone is to get tweaks and apps which are not accepted by Apple. ofcourse there are hacks available but jailbreaking seems to be less complicated. The first jailbreak for the iPhone 4 and also iOS 4.0 has been released, you can browse this web based jailbreak by mobile safari.
Important :
Even if it is legal, Jailbreaking your iPhone will void its warranty.
The JailBreakMe 2.0 is a tool for jailbreaking not only for iPhone 4, but for any iPhone running iOS 4.0.1, this includes any iPad running iOS 3.2.1 or below. As far as the reports are concerned JailBreakMe does indeed work properly, but the website offering this service is severely slammed by number of users. if you want to jailbreak then will have to wait until the stampede it over.
after this jalbreak you can access the forbidden apps like Cydia. also it is reported that you can break into FaceTime and MMS.
Conclusion:
Finally, Jailbreak your iPhone at your own risk, this doesn’t means it will slow down your device, but if you care about your warranty then you shouldn't try this.
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Thanx for the Info
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