The Xbox guide button will function much differently on the Xbox One than it does on the Xbox 360. While new controller still has a similar functionality, users will open the dashboard directly on the new hardware. Instead of opening up a guide system, whatever application is being used on the Xbox One will be minimized and continue running in the background.
Speaking on the Major Nelson podcast a conversation between Larry Hyrb and Marc Whitten gave a few new details about this new functionality.
Hyrb explains: “I became accustomed to the new dashboard and the fact that when I hit the Xbox button whatever I’m doing shrinks down, and all of a sudden there’s the whole dashboard.” At which point, Marc Whitten also explains that the Xbox One is “All One Thing”. “All of the power of the Xbox is there right behind that Xbox button, ready for you to move between experiences.”
These comments came from the same podcast where Marc Whitten confirmed the increase to the Xbox One GPU speed, and firmware tweaks that are increasing the power of the console as final dev-kits make their way to developers.