Update #3: For the convenience of kernel hackers like @comex and @i0n1c, we have a new redsn0w 0.9.8b3 that supports a TETHERED jailbreak for iOS 4.3.4 on all devices that have 4.3.4 except the iPad2. The vast majority of people will want to stay back at 4.3.3 because thatâ€™s where the untethered jailbreak is! There are no new features in 4.3.4 â€” only fixes for jailbreak exploits.
Here are the download links:
A tethered jailbreak means if you run out of battery, or your iPhone reboots, you’ll have to re-jailbreak your iPhone again. In other words, your phone will be out of operation until you can get to a computer. It’s not the best situation, but only if you’re desperate for a jailbreak.
As always, jailbreaks should be performed at your own risk. Thanks to the Dev Team for releasing this, but it is for hardcore users only!