The NME-360 was the first commercial modchip for the Xbox 360, released about 7 months after the console.
replyIt has been 13 years since the Xbox One released and this is the first demonstration of unsigned code execution.
What's unexpected, and what makes this newsworthy, is how long it has taken.
Tony Chen from Microsoft gave a talk called "Guarding Against Physical Attacks: The Xbox One Story" and he explains that they want any sort of physical attack to cost at least the price of 10 games ($600 at the time).
replyDepends on the size of the system you need to secure.
replyIf kilobytes of storage and very limited computing power works for your use case, you can get very secure (smartcards and secure elements remain essentially undefeated at the hardware level; all attacks I know happened via weak ciphers).
For an entire current-gen gaming console, you'll have a much harder time.