Microsoft has announced updates to Xbox Live at E3 2013.

At the company's conference, it was announced that the Microsoft Points system will be abandoned.

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Microsoft

It will instead switch to real local currencies for all players.

Xbox Live will no longer feature a limit of 100 friends, while Gold memberships will be transferred over to Xbox One from 360.

Beginning with Assassin's Creed 2 and Halo 3, Gold members will also benefit from free games every month.

Xbox One will also feature a built-in TwitchTV function which will allow players to livestream their gameplay.

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The announcements were made during Microsoft's E3 press conference, alongside Xbox One pricing and release information.

A new Halo title was also unveiled, as well as Dead Rising 3, Ryse, Titanfall and Project Spark.

The company also unveiled a brand new slimmer, quieter Xbox 360 and revealed plans to ditch Microsoft Points.

Gallery - Xbox One confirmed games:
Xbox One confirmed games

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Hugh Armitage is Movies Editor at Digital Spy.