Yesterday, the Verizon iPhone was announced. Not much is different; there is a new CDMA antenna and mobile hotspot feature coined as "Personal Hotspot." This new (currently) Verizon-specific iPhone feature mimics popular jailbreak utilities like MyWi.
Personal Hotspot will be a new, pre-installed software feature for the Verizon brand of iOS. This mobile hotspot feature has been available on most Android phones for quite some time. Some more details have surfaced about Personal Hotspot...