The PS4 scene has been filled with awesomeness, well at least for those of you on firmware 4.05, sadly i am not on that firmware myself, so this will be the first F.A.Q that i write without owning a hacked version of the console i am writing about, i will attempt to help you in the best way i can:

Q.) My PS4 is on a firmware below 4.05, how do i update to the correct firmware?

A.) You will need to download the correct Firmware here

You can check the MD5 of any 4.05 firmware you download, by downloading this software which does not require an install:

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Or use this online tool:

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The MD5 for firmware 4.05 is 203C76C97F7BE5B881DD0C77C8EDF385

Once you have the above firmware downloaded, rename it PS4UPDATE.PUP

Grab a USB Thumb Drive, format it to Fat32, on the root of the drive, create a folder called PS4 and inside that folder create another folder called UPDATE, then put the firmware inside the UPDATE Folder, it should look like this Root>PS4>UPDATE>PS4UPDATE.PUP

If you need more help with installing firmware 4.05, you can view a detailed explanation on @wololo's blog here: [ Register or Signin to view external links. ]