For months the hype has been leading to Sony's PlayStation Meeting, where it finally unveiled its next generation console to the world.

Mark Cerny, lead system architect on the PlayStation 4, was brought out to discuss the creation of Sony's new next generation vision. Sony doesn't want anything to be in the way of the player and playing the game, and used invaluable feedback from developers to help create the hardware inside.

The PlayStation 4 hardware will feature an X86 CPU, an enhanced PC GPU, and 8GB high-speed unified memory. Digital titles will be playable as they you download them, making sure you are able to get connected to the content faster. With the new cloud powered sharing functionality, videos can be uploaded or viewed while you play, with little to no interruption from the actual game. Livestreaming will also be a major component of thew new online network.

Sony's new friends list will integrate with existing social networks, and partnerships with Facebook and Ustream will allow people to stay connected even outside of the PSN.

Unfortunately, Sony did not reveal the console (let alone a price) during the event, which was somewhat expected. The company did indicate a holiday 2013 release window for the new system.