The website PSPUpdates is now reporting that another hacking group, named MPH, has used the buffer overflow exploit to develop a firmware downgrader. This will take 2.0 firmware and downgrade it to version 1.50. For several months, this has been the holy grail for PSP hackers, due to the security hole in 1.50 version of the PSP firmware that allow homebrew programs to be run from a memory stick. However, it’s now likely that in the next few weeks we’ll see the buffer overflow exploit used to run previous homebrew programs directly from 2.0 PSPs without even needing a downgrade.
It is highly recommended that you do not downgrade. Firstly, if something goes wrong during the downgrade, your PSP will become permanantly unusable and it's not likely Sony will come to your rescue. Secondly, you will lose access to all the features of the 2.0 firmware, such as the web browser and AVC movie playing codec - things most people definitely won't want to lose. Finally, many games actually require the latest version of firmware to be installed in order to run. While there are programs that bypass this, it can be difficult to set up if you’re not experienced with this sort of thing.


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