iOS 5.0.1 firmware.
And Corona is probably the most simple jailbreak tool available to install, no need to go through the probably tiring processes install it.
However to have the tool installed to your iPhone or iPad must already been jailbroke. Because it requires you to access Cydia app store and install the Corona package, there is no way to do that without having a jailbroke iOs device.
And in this post I would like to share a how to install Corona Package from Cydia. Hope you will find this post useful.
If your iPhone has not been jailbroken, or prefer using Redsn0w, you can head over this untethered jailbreak iOS 5.0.1 with Redsn0w
Untether Jailbreak iOS 5.0.1 for iPhone and iPad
Step 1. Launch Cydia.
Step 2. And then use the search box to search Coron.
Step 3. Corona Package will appear along with its version and description, if that's so tap on Install button.
Step 4. Cydia will ask your confirmation before the installation take place, therefore tap on Confirm button.
Step 5. After the installation is finished, your device will display the Corona installation logs. That means Corona is installed to your iPhone. Now you need to click Return To Cydia button.
Step 6. Last step you need to do now is rebooting your device.
Step 7. Finished, your iPhone is already in untethered jailbreak state now using Corona.
Via: how to get Corona untethered from Cydia.