No. PS3 homebrew first came about with OtherOS. Then HV-level exploits happened with memory glitching hardware attacks and OtherOS was removed. Then people found out about an exploitable bug in the USB stack and the PSJailbreak dongle was created. Then fail0verflow realized that just about everything was broken, including the signature algorithm that Sony was using (DSA based algorithms require a random number as input - if you can find 2 signatures using the same number, you can get the private key out of it).
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