What a eLoader?
It is the epitome of EBOOT Loader. This allows you to run homebrew on PSP Firmware 2.0 or higher. You can then launch homebrew on a PSP, even if it is not custom firmware, via a crack or HEN.

Freeplay had managed to launch a Hello World on the PSP go (go PSP Hack: A 'Hello World' launched on Sony's new console), although we noted that this vulnerability was not exploitable (can not access the kernel), and it was just to show that the PSP does not go so inviolable that. Freeplay's announcement had caused many storms, we had also demonstrated the seriousness of the developer: HACK PSP go: we have tested the 'Hello World' Freeplay.
On Youtube Profile Freeplay, it was announced that the feat on the PSP go advanced.
Here are the words of Freeplay:
There is progress. My NID Resolver now works perfectly. If I get it to work with sources of eLoader, then we will have a eLoader go for the PSP.
No, you're not dreaming, a eLoader could happen soon go to the PSP, released on 1 October in Europe and November 1 in the land of the rising sun. Hopefully Freeplay comes to something good with eLoader, and thus show that the PSP is hackable go.

Finally hackable?
As the saying goes, wait & see ...
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