Here is the Full PS4 4.50 Firmware Changelog

The full PS4 Changelog has been leaked across the internet revealing some interesting additions to the PS4. Notably, you can now post GIFs to activities and social events, you can make a party private or public even after it has been created and you will be able to use one external HDD for games and applications, just note that the hard disk drive will have to be USB 3.0.

Main features in version 4.50 beta update

• You can now use a USB storage device to install applications or move applications from your PS4’s system storage. The following USB storage devices can be used. Select (Settings) > [Devices] > [USB Storage Devices], select the connected USB storage device and then format it for use as extended storage.
  • External hard disk drive
  • USB 3.0 or later
  • 250 GB minimum, 8 TB maximum capacity
• The quick menu is now more user-friendly. Creating, joining and other party features are even easier to access.
• (Notifications) has been redesigned. All notifications now appear in a single list.
• You can now use screenshots to customise the background of your home screen and function screen. Select (Settings) > [Themes] > [Select Theme] > [Custom].
• You can now post screenshots directly to activities, such as those shown in [What’s New]. Press the SHARE button, select [Screenshots] and then select [Activities] as the upload destination. Also, you can now tag games and fellow players.
• You can now post animated GIFs to activities and social applications.
• You can now make a party public or private, even after the party has been created. Select (Party) > [Party Settings] > [Party Privacy].
• PlayStation VR now supports Blu-ray 3D™ content.

Other features in version 4.50 beta

• As a parent or guardian, you can now easily create sub accounts for your children when creating your master account.
• You can now upload or download saved data directly from the home screen. Press the OPTIONS button and then select [Upload/Download Saved Data].
• You now have the option to share screenshots on PlayStation Network. When sharing, you can also adjust privacy settings.
• You can now change the colour of your profile screen to match the cover image. On your profile screen, select (Options) > [Change Cover Image] > [Change Background Colour].
• When reporting inappropriate content, you can now preview your report before sending.
• Cinematic mode image quality on PlayStation VR has been improved.