iPhone development team has released a new version 0.9.5 beta 5 of Redsn0w to support iOS 4 and to enable the multitasking and homescreen wallpapers in iPhone 3G and iPod Touch 2G.
This release does not “hactivate” the iPhone but the feature will be included when the public version of iOS is released. If you want to install the iOS 4 GM release on your iPhone/iPod, you can read the complete procedure in this post.
How to Enable Multitasking:
We have already discussed the jailbreak process using Redsn0w which is same for this release too. After you have jailbroken your device, open up the Redsn0w and check that option that says “already pwned” and now select the other options to enable multitasking, homescreen wallpapers etc. I would recommend not to enable the homescreen wallpapers because it might slow down your phone. Enjoy only multitasking.
Follow the link in Update 1 for more details.
Download Redsnow 0.9.5 beta 5:
You can download the latest version 0.9.5b5-5 which fixes many problems and issues like MMS/iBooks etc from here.
Update 1: iPhone Dev Team has released an updated Redsn0w 0.9.5 beta 5 – 3 to jailbreak and hacktivate the iPhone 3G and iPod Touch 2G.