The leading online sportsbook and casino in cryptocurrency, 1xBit has announced the implementation of its new EOS transaction support. This support will allow its players to take advantage of the cheaper and faster transactions offered by EOS Cryptocoin. All 1xBit players will now be able to deposit and withdraw the cryptocurrency on the sports betting platform.
Bitcoin online casino 1xBit will offer zero transaction fees and faster transaction times with innovative EOS support
The leading online sportsbook and casino in cryptocurrency 1xBit has announced the implementation of its new EOS transaction support. This support will allow its players to take advantage of the cheaper and faster transactions offered by EOS Cryptocoin. All 1xBit players will now be able to deposit and withdraw the cryptocurrency on the sports betting platform.
The block chain with no transaction fees, capable of processing over 4000 transactions per second, and therefore 1xBit Casino believes that EOS cryptocurrency will become a welcome addition to the already wide range of digital cryptocurrencies supported by the growing 1xBit bookmaker.
EOS is an intelligent contract blockchain platform which was launched by Block.one CTO Daniel Larimer in 2017. EOS is the second largest platform used to design fully decentralized applications (Dapps) today. The EOS intelligent contract blockchain uses a delegated consensus mechanism for participation testing, with the main objective of offering the fastest, cheapest and most scalable intelligent contracts in the world.
So how does this affect online casino players and general users of cryptocurrency? Compared to the Ethereum (ETH) the design is similar, however EOS can execute many more transactions and does not need Ethereum Gas to complete them. What is Ethereum Gas? Gas refers to the rate, or price value, required to successfully complete a transaction or execute a contract on the Ethereum blockchain platform.
Therefore, by not having the fee, it is a cheaper and faster alternative to the ERC-20 token.
EOS vs ETH
EOS is widely known as the biggest competitor of Ethereum (ETH). Perhaps EOS does not have as many daily users yet, but it already has superior numbers of intelligent contract execution and transactions without an Ethereum gas price.
So, how do cryptocurrencies compare to each other and where is the importance? Two factors; scalability and cost are what the everyday user considers when adopting a new cryptocurrency.
When it comes to scalability, EOS certainly has the advantage. ETH supports about 30 transactions per second, while EOS can execute 4000. Ethereum co-founder Vitalik Buterin says ETH 2.0 will process 100,000 transactions, but the launch is currently delayed until November 2020.
Instead, the EOS intelligent contract blockchain platform was designed to deliver the fastest transactions possible, using parallel transaction processing and minimizing block producers and as a result is much faster performance.
The Ethereum (ETH) scalability issue has had a ripple effect on payments. Its 30 per second transaction limit often causes network congestion, which results in very high gas fees.
In December 2017, Ethereum Gas rates shot up to an average of $4 per transaction. The EOS platform does not use Ethereum Gas for transactions, but EOS users must share proportionately the network bandwidth, processing power and storage needed to run the network, which requires some RAM memory storage on each user’s computer. Otherwise than Ethereum, EOS users do not pay any transaction or network fees.
1xBit Sportsbook & Online Casino
The 1xBit bookmaker and online casino is well known not only for pioneering the cryptocoin industry, but also for the wider adoption of crypto coin in general.
It is therefore not surprising that 1xBit has chosen to support EOS. Bitcoin online casino 1xBit offers a wide range of online slots and casino games, better odds for sports betting fans and always has new bonuses and promotions.
The 1xBit website is translated into 60 different languages, and is adapted for both iOS and Android devices. It also offers games developed especially for cutting edge mobile devices and has a registration bonus of up to 7 BTC.
The bitcoin casino and betting shop 1xBit allows players to make deposits and withdrawals in more than 20 different cryptocurrencies, and from now on with the new EOS support.
With the addition of EOS cryptocurrency players will be able to take advantage of free and fast transactions to get their winnings without losing a cent. Visit the 1xBit bitcoin casino, deposit EOS and start winning today!