It seems that jailbreaking community waiting for Apple to release its next generation iPhone 5 with A5 chip the same module which uses in iPad 2. According to the tweet of Craig Fox, the organizer of MyGreatFest, first London based iPhone jailbreaking and unlocking related event, the jailbreak of iPhone 5 will be live demoed on the event when it will release, if the iPhone 5 releases before the September 17th, than for sure we will see live jailbreak hacking of iPhone 5 by the author or key member of Chronic Dev Team “p0sixninja”.

The key member of team has also tweeted which suggests that this will going to happen, recently the team had announced that they have iPad 2 Jailbreak means A5 jailbreak and will release it soon, so maybe they will release iOS 5 jailbreak on iPhone 5 live at MyGreatFest event. It is also reported by several jailbreak developers that they will join the event of MyGreatFest and will together rock the floor of the event, if iPhone 5 jailbreak happened successfully than it will become the fastest jailbreaking process of device ever, because it is reported that iPhone 5 will start shipping in the first week of September and the event on September 17th , means developers have only 10 days to check out their self’s.