The moment for which everyone has been waiting since October is finally here. The untethered jailbreak for iOS 5 has finally been demoed on an iDevice, up and running. Many of you have been enjoying the raveling features of iOS 5 since October and have been waiting for untethered jailbreak since then. Rejoiced to hear that? But when are we going to see a public release of an iOS 5 jailbreak tool and how exactly does it work? Read on to find out.

Pod2G, a famous hacker that has been working for quite some time now tweeted regarding a video that demoed an iPod Touch running an untethered jailbreak on iOS 5. The jailbreak is compatible with iOS 5.0 only and not iOS 5.0.1 for sure but there is no verdict from the brains behind the work. Unfortunately it has also not been revealed how exactly the untethered jailbreak works. Is it based on the past exploits found by various hackers or it’s a new intervention? Check out the video below.

It seems like many things are yet to be sorted out. If this jailbreak is based on a userland exploit then it is highly likely that the jailbreak will work with iPad 2 and iPhone 4S. As we reported earlier regarding iPhone 4S untethered jailbreak, this could be it. But one thing’s for sure that it’ll render all A4 based and older devices untethered.

Good days are nearby but how far? Be patient and let’s wait for an official word.