There's lots of apps and tons of functionality in the iPhone 4, but it's still not as good as it could be. For that, we have jailbreaking, which opens up the door to all sorts of new functionality and applications that Apple doesn't want you to have.
With the release of new iPhone hardware, there's always the question about jailbreaking. Fear not, however, as the Verizon iPhone 4 seems to be just as jailbreakable as the global model.
Early tests using the greenpois0n exploit have revealed that the latest software tool works also on the Verizon iPhone 4, despite the hack not being specifically designed to do so. Given that the phones are essentially the same except for the radios, this shouldn't be too surprising.