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In today's Microsoft Xbox E3 show live broadcast event, Microsoft officially revealed details about its next-generation Xbox console. The new console will be available for sale during Christmas 2020. It's codenamed, Project Scarlett. Project Scarlett Hardware details According to Microsoft, the next generation of consoles will use custom-designed CPUs based on AMD's Zen 2 and Radeon RDNA architectures. Hence, the new console will be four times more powerful than the Xbox One X. Microsoft will also use fast GDDR6 memory, which Microsoft says will "enable resolutions and frame rates that we have never seen before." The new Project Scarlett console will support 8K games with a game frame rate of up to 120 fps, ray tracing and variable refresh rates. And Microsoft will use SSD on Project Scarlett. "We created a new generation of solid state drives. We use SSDs as virtual memory!" the Xbox spokesperson said in the unveiling video! According to Microsoft, the performance increase is 40 times that of this generation of consoles, which means that the game loads much faster. ProjectScarlett will also be backwards compatible with all existing native Xbox games on XboxOne, Xbox360 and XboxOne. The competitors! It is worth mentioning that competitor Sony also promised that the PlayStation 5 will support up to 8K graphics, 3D audio, SSD storage and backward compatibility with existing PlayStation 4 games. The PS5 will also use an eight-core CPU based on AMD's third-generation Ryzen series with a GPU that supports ray-tracing graphics and 4K graphics with a 120 Hz refresh rate. Unfortunately, Microsoft has not announced the appearance of the Project Scarlett machine, we may see more information about Project Scarlett on E3 next year. Microsoft Next Generation Xbox console might be coming soon by next year but a lot is still unknown! So guys are you excited about the same? Do let us know your views in the comments section below! Keep visiting for more such awesome posts, internet tips, gadget reviews, and remember we cover, "Everything under the Sun!" Follow Inspire2rise on Twitter. | Follow Inspire2rise on Facebook. | Follow Inspire2rise on YouTube.