The only thing we know for sure is that it belongs to the iphone-dev team.

theiphoneproject:~# nslookup yellowsn0w.com
Server:	66.98.240.131
Address:	66.98.240.131#53

theiphoneproject:~# nslookup redsn0w.com
Server:	66.98.240.131
Address:	66.98.240.131#53

We can all speculate, though. Some think it’s the holy grail of iPhone unlocking.  The bootloader exploit for a permanent unlock as opposed to the baseband injection. Some think it’s the iPod 2G jailbreak.

Who knows? We shall wait and see!

We’ll try to keep you updated.  I’m pretty sure theres going to be people buying up <color>sn0w.com now just to feed peoples’ wandering finger tips. They tweet once in awhile, I would check it out.