The PS5 is nearly approaching, although it seems not be the fastest console in the world, its revamped over PS4 with whole new architecture processor unit and speed, support up to 8k resolution display and fastest storage (Solid State Drive) better than PS4 in almost every way.

PS5 vs PS4
Specification of PS5 shows the differences in term of its capabilities and improvements on the platforms itself by adding more efficient faster compute parts and efficient storage, despite support larger capacity of disks even support for higher resolution up to 8K.

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