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The iPhone Dev-Team has released the carrier unlocking tool called Ultrasn0w for US based iPhone 4 users.

They are now free to legally distribute their application without any worry that they would be targeted for a lawsuit. The dev team also has announced great news for iPhone 4 owners today. They have released the updated version of their unlocking/jailbreaking tool, now supporting iPhone 4 users.

According to The Dev Team Blog, “It’s the moment that many of you have been waiting for: the Dev-Team’s ultrasn0w carrier unlock for iPhone 4 is out. You’ll find version 1.0-1 of ultrasn0w in Cydia on jailbroken devices.” Jailbreaking is the act of freeing the iPhone from the restrictions that apple’s default settings provide. It allows users to install custom software from a wide variety of different places without the need to use the iTunes App Store.

Jailbreaking has been extremely popular among the technology enthusiast community. Unlocking allows users to use the phone on a carrier other than AT&T, as well as install custom themes, home screens, and applications not available in the app store.

Thanks to neowin , redmondpie , engadget