Microsoft's oft-rumored game-streaming service is indeed in the works, but now has another name, it seems. Zdnet reports that "Arcadia" is the name of a new streaming technology in development at Microsoft's Operating Systems Group.

This technology, according to sources, replaces the Rio game-streaming service that Microsoft showed off with "Halo 4" during a meeting last year. Microsoft has since called that test a "grand experiment" of what is possible in the game-streaming space.

"Arcadia," which is being constructed on Microsoft's Azure cloud, again according to sources, has been referenced in some Microsoft job postings. These requisitions refer to the new service as "the next big thing."

As for when "Arcadia," will be displayed to the general public, the Zdnet piece said a reveal next month at Microsoft's Windows 10 event is improbable, even though Xbox boss Phil Spencer is one of the main speakers.

"It might be a bit early in the development cycle for Microsoft to take the wraps off Arcadia," Zdnet said. "The guess is that 'Arcadia' is a post-Windows 10 deliverable. (Windows 10 is due to launch by fall 2015.)"

"Arcadia" is, most probably, only a codename for Microsoft's rumored game-streaming service. That name might be familiar to "Halo" fans, as "Arcadia" is the name of United Earth Government Colony in the series.

Microsoft's Albert Penello said in 2013, rather bluntly, that the Xbox One could utilize the Azure cloud server network for a service as significant as game-streaming. Asked if this would be possible, he said at the same, "absolutely," before giving pause and rethinking what he initially said.

"Using our Azure cloud servers, sometimes it's things like voice processing," he said. "It could be more complicated things like rendering full games like a Gaikai and delivering it to the box. We just have to figure out how, over time, how much does that cost to deliver, how good is the experience."

Although Microsoft may not be entering the game-streaming realm immediately, Sony has been in that business, utilizing the Gaikai technology it paid $380 million for, since the beginning of 2014 through its own service, "PlayStation Now." This streaming technology is currently available, in beta, across PlayStation 4, PlayStation 3 and PlayStation Vita.

And even though it is up and running at this very moment, Sony has referred to "PlayStation Now" as a "long-term journey."