So I debated about this making this thread, but considering how we do have a dedicated thread for the sake of Nintendo Switch..we might as well for the sake of Playstation 5.
The Platstation 5, had been formerly announced publicly last year to be releasing by the holiday season; as they have slowly inked and shown out information of the systems technical hardware; with statements of a focus of an inclusive Playstation console, for all past users. One of the biggest rumors, is a complete backwards compatibility feature for the console, that would allow players to go and play games as far back as the Playstation 2, on Playstation 5 (as they have filed patents and details in the past.
The PS5 will be using SSD; and has been stated by Mark Cerny to be supporting Ray Tracing.