Geohot!

The root key is basically just a Sony signature that lets the PS3 know if whatever you’re trying to open is legit. However, now that the key is out in the open, people will be able to sign their homebrew apps, custom firmware or pirated ISOs with it and the PS3 will load them all without a hitch. What this means is that the PS3 –entering the fifth year of its lifecycle- has pretty much finally been hacked.