Sony's PS5 isn't the only new console coming out in 2020. Scheduled for a holiday launch, Microsoft's next-gen Xbox, codenamed Project Scarlett, will challenge the PlayStation for graphics superiority. The console is said to be four times more powerful than the Xbox One X, with a custom CPU based on AMD's Zen 2 and Radeon RDNA architecture, GDDR6 RAM, and SSD storage. As a result, it will support 8K gaming, frame rates up to 120fps, ray-tracing, and variable refresh rates. With the launch over a year away, expect more details — including pricing and a glimpse of what it looks like — in the coming months.