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Get ready for a whole new generation of USB. The USB Promoter Group recently announced that a new standard, “USB4” (official spelling lacks a space, but we’re using one in this article to reflect the way readers search), will be released later this year with products that utilize the technology likely to come much later. USB 4 promises a host of benefits that include faster transfer speeds, better management of video and optional compatibility with Thunderbolt 3.

In a world where there are four different versions of USB 3.2, two types of USB 3.1 and a host of connector types and power specs, the idea of a new standard might seem overwhelming. However, there’s also a lot to look forward to. Here’s everything you need to know about USB 4.

Main Benefits of USB 4

The new USB 4 standard will have three main benefits over prior versions of USB.

* 40 Gbps Maximum Speed: By using two-lane cables, some devices will be able to operate at up to 40 Gbps, the same speed as Thunderbolt 3.

* Compatible with Thunderbolt 3 devices: Some, but not necessarily all USB 4 implementations will also work with Thunderbolt 3 devices.

* Better Resource Allocation for Video: If you’re using a USB 4 port to transport both video and data at the same time, the port will allocate bandwidth accordingly. So, if the video only needs 20 percent of the bandwidth to drive your 1080p monitor that’s also a hub, the other 80 percent will be free for transferring files from your external SSD.