At the Hack in the Box conference, in Amsterdam, Jailbreak Dream Team announced the launch of Absinthe 2.0 the first jailbreak for the third generation iPads available untethered. The jailbreak will be for the iOS 5.1.1 version and will be untethered which means that there is no need for an external firmware support.
Normally you can use only Apple authorized apps in iOS mobile gadgets that are available from iTunes- the Apple Store. You cannot use third party applications that are not authorized by Apple. The iOS 5.1.1 Absinthe 2.0 untethered jailbreak will allow users of Apple gadgets like iPads, iPods, iPhones and the like to download and use applications that are not authorized by Apple.
If the jailbreak is tethered, you will need to connect it to a computer every time you reboot the device. Untethered jailbreaking allows users to keep the device jailbroken even after rebooting it. The Absinthe can be used for iOS 5.1.1 gadgets only iPhone 3GS, iPhone 4 and iPhone 4S, iPod Touch, iPad 3, iPad 2 and iPad 1. Apple is not expected to release a new iOS version just to patch the new jailbreak. According to the jailbreakers in the conference, Apple will most probably solve in the release of iOS 6.