Verizon released the specs for their 4G network today, (well, they announced the day they'll be announcing them--May 13th) giving a significant promotional boost to their Open Development program and increasing interest in their upcoming network change over.
These new specs allow hardware builders to start working on devices that will work on the new network, which is specifically a 700MHz Long Term Evolution or LTE network. The whole idea behind releasing the specs early is to give developers enough time to come up with devices that are LTE-ready by the time the 4G network launches early next year.
Trials for the LTE network have already shown speeds of 60Mbps and would make it possible to stream HD video on your mobile device. An early 2010 release is expected for Verizon's LTE network, but we'll just have to wait and see if there are sufficient devices to take advantage of the improved speeds at that time.