Verizon will be holding an event where they will be announcing the new Verizon iPhone on their network. According to the Wall Street Journal the Verizon iPhone is a CDMA iPhone. It is going to be an iPhone 4, but without a SIM card slot. Due to the fact that it's CDMA, it can work on Sprint as well so I think there is a possibility of being able to unlock this phone and use it on Sprint.
The Verizon iPhone will also have an unlimited data plan as well, at least according to a recent article on The Wall Street Journal. If this is true, then Verizon users have an edge over AT&T users due to the fact that AT&T does not have an unlimited plan. Unfortunately the Verizon iPhone won't be running on Verizon's new super fast 4G (LTE) network. It'll probably support the LTE network in a future generation.
Verizon Wireless is holding the event in New York. We'll be covering the live event, so be sure to follow us on Twitter or Facebook.