Sony has announced that it will be rolling out PlayStation 4 firmware version 3.00, a new update that will bring massive changes focused on video streaming and cloud storage to the flagship video game console.

The latest software update, codenamed Kenshin, is the biggest the PS4 system has received in its entire two years of existence. Sony Vice President of Platforms Marketing John Koller says the update will roll out to registered beta testers very soon, although he declined to mention a timeline for when we can expect Sony to release the update to the wider public.

"Keep in mind, some of this content might not make it into the final version—that's why we're having a beta, after all," Koller said in a blog post announcing the update. "We've added new ways to connect with friends and players around the world, expanding the social capabilities of the system even further."

One of the biggest changes gamers will see with the update is the ability to livestream games straight to YouTube, including the new YouTube Gaming app and website recently launched by Google. The feature is similar to the one that allows users to stream games over Twitch, and is part of YouTube's effort to attract the millions of gamers that have flocked to Twitch. For shorter videos, gamers can also now share their clips on Twitter, but for now these are limited to 10-second clips.

Perhaps more exciting for many gamers is the phenomenal boost in online storage from a measly 1GB to a good 10GB, which should allow gamers to access their game saves from the cloud. The update also adds a usage meter to let users monitor how much of their allotted storage they are currently using up.

Also notable is the creation of interest-based communities, which users can form with other gamers who like the same games or genres. These communities have their own message boards where people can hold discussions and share screenshots with others. It's also a good way for gamers to look for team members when they want to take on a huge raid but personally know no one who wants to do the same.

Aside from these changes, Sony is also adding a host of other interface tweaks that enhance the PS4 experience. One of these is the new hub for events, where players can see an overview of the events happening for their favorite games, such as when there's a special enemy to fight or when a Double XP weekend has been scheduled. They'll also receive notifications when the event starts or if a change in schedule has been made, so they don't miss out on any of the events.

There's also the much-awaited "request to watch" feature, which does exactly what its name says it does. The Now Playing screen gets an update to display more information about games, events and friends, and Favorite Groups has become more accessible now that it has been transferred to the Friends app.

Lastly, the update also brings stickers to messaging, a useful feature especially for gamers who only need to fire a quick sticker instead of typing out an entire message while playing.

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