While everyone is waiting for untethered jailbreak from iPhone dev team which uses iOS 4.2 Beta 3 hashes on other hand chronic dev team seems to working on their own untethered jailbreak solution for iOS 4.2.1 which will not require hashes & can be utilized by everyone even those who don’t have SHSH saved.

Here are the tweets made by p0sixninja,

A lot of people are saying another tethered jailbreak is pointless, I agree. Focusing on getting untethered before release

@p0sixninja I assume you are talking about Greenpois0n? Are you implementing Musclenerd’s untether or do you have your own?

@tahu363 we’re implementing our own

@p0sixninja I’m assuming “your own” will require 4.2b3 shsh? And thanks for your guys work!

@Capsfanchad lol no

Even Comex has untethered jailbreak solution but he may not release it before iOS 4.3 but in case Comex releases untethered jailbreak for iOS 4.2.1 then you may need to save iOS 4.2.1 firmware to get untethered iOS 4.3 jailbreak.

via iClarified