The next generation Xbox will host 8GB of RAM and be based on 64bit architecture, the company revealed at a live event on Tuesday.
Early details also reveal that the device will play Blu-Ray discs, transfer data via USB 3.0, and apparently operate "silently". It is not yet known what speed the RAM runs at - the PS4 packs 8GB of DDR5.
Engadget reports the Xbox One will have an integrated 500GB hard drive. According to Albert Penello, senior director of product planning at Microsoft, the hard drive cannot be replace by users. However, external storage solutions can be used through the console's USB 3.0 port. These can do everything the internal storage is capable of.
Meanwhile, Microsoft's Marc Whitten, speaking to a gathering at Microsoft's Redmond campus on Tuesday, claimed that the console will co-habit three operating systems in one.
One operating system features "deep and instant access to hardware", another appears to be a Windows operating system, and a third is custom made for multi-tasking operations.
He added that Xbox One's Xbox Live service "will be powered by 300,000 servers" he said.
"That's more than the entire computing power of the world in 1999".
At the launch of the Xbox 360 in 2005, Xbox Live hosted 3,000 servers to power the pioneering online system.
The new Xbox One will support 3D stereoscopy and 4K resolution standards, it has been confirmed, but 4K support is likely to be largely limited to video content, as is the case with PS4.
Microsoft revealed its new Xbox at a live event on Tuesday.