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Esports and Virtual Sports: How Are They Different?

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Esports and Virtual Sports How Are They Different

With the COVID-19 pandemic, many traditional sports bettors have started to look for other alternatives, namely esports and virtual sports.

To novices, esports and virtual sports might seem like the same thing, but there are many different features that set these two apart. We will be explaining what particularities esports and virtual sports have in order to help bettors decide which type of sports is more suited for their betting style.

What Are Esports?

Esports define the concept of gaming seen as a sport, where professional video game players compete in tournaments for prizes. Such competitions are basically a video game in which real players fight with each other.

While there are several video games that have traditional sports, such as football (FIFA), the most popular genres are multiplayer online battle arenas (MOBA), such as DOTA II, and first-person shooter games like Fortnite, Call of Duty, and Counter-Strike.

Betting on Esports involves betting on a team or individual player, either during the tournament, league, or match. Like traditional sports, you can place bets while the game is live, and you can also watch the live streams of big events, just like football.

Since the pandemic caused many traditional sports games to be canceled, many have shifted their interest towards esports, as these types of matches can be carried out exclusively online.

What Are Virtual Sports?

Virtual sports are virtual simulations of real-world, popular sports and do not involve any real action, as the outcomes are generated by computer-based sequences through the use of a Random Number Generator (RNG) software.

There are plenty of virtual sports based on “normal” sports betting, but the most popular seem to be horse racing and football. As these games use RNGs, betting on them is more similar to playing at an online casino than on a sportsbook. Instead of betting on the spin of a slot, you bet on a horse, a football team, or a racing car. Esports betting is more similar to real-sports betting, as the principle is largely the same.

The RNG software determines which player or team will win based on their odds, and their chance of winning in proportion to the odds is identical.

Virtual sports have been around for a long time, but because of the limited number of traditional sporting events, this type of betting has seen a resurgence, as bettors were seeking sports options during the pandemic.

Pros and Cons of Esports vs Virtual Sports

Both types of sports have their pros and cons when it comes to betting:

  • Esports are more entertaining for video game fans, so you can understand the odds for such matches better;
  • Virtual sports are easier to understand by traditional sports fans;
  • When it comes to betting, Esports betting has the same mechanism that is applied to traditional sports betting, as you wager on the outcome of real-life events, even though they are happening online;
  • Virtual sports betting is more like casino gambling, as the outcomes are generated at random, like with slots;
  • You can bet on virtual sports whenever you want, as they are streamed non-stop;
  • Esports events are played frequently, but not like virtual sports.

Whether you are into virtual sports betting or esports betting, the 1xBit online crypto sportsbook offers plenty of events for both. Here you can find games such as DOTA II, StarCraft, Overwatch, Rainbow 6, PUBG, Fortnite, and CS:GO, as well as virtual versions of football, racing, tennis, cockfights, and many others.

1xBit features a wide line on all bets, having a variety of bids for sports events, with over 20 betting variations per event, including Double Chance, Handicap, Correct Score, and many more. At 1xBit, you can find the best odds in the crypto sportsbook industry.

Registering on the platform is simple and requires only one click. No email or personal information has to be submitted, as the site automatically generates an account number and password. This, combined with the exclusive use of cryptocurrencies as payment, make 1xBit a fully anonymous sportsbook.

Users can fund their multi-currency accounts as soon as they create it, and they can start placing bets on their favorite esport or virtual sport without any worries.

1xBit supports the deposit and withdrawal of over 20 different cryptos, including Bitcoin, Ethereum, and Litecoin. Payouts are executed quickly, and there are no transaction fees on 1xBit’s part, as all transactions are based on crypto.

New users can take advantage of a welcome bonus of 7 BTC that is given throughout the course of their first four deposits, where they can claim between 1 and 3 BTC for each deposit.

Come and discover esports and virtual betting on 1xBit and enrich your crypto funds!

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Bitcoin Wallet Insights: Exploring the Timeframe to Mine One Bitcoin

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Bitcoin mining is the computational process that secures the Bitcoin network and mints new Bitcoins as a reward. It involves dedicating significant computing resources to solving complex cryptographic puzzles. For any individual miner, a key question is: how long does it take on average to mine one Bitcoin?

While dependent on mining equipment and conditions, examining the variables that influence mining rates can provide perspective on achievable timeframes. Let’s explore the Bitcoin mining process and factors impacting the timeline for miners to acquire their first coin.

The Probabilistic Nature of Bitcoin Mining

Bitcoin mining is essentially a lottery where participants compete to solve a mathematical problem and create the next valid block. Successfully doing so earns the miner the right to include a new batch of transactions and mint fresh Bitcoin. However, finding a solution involves guessing trillions of random numbers per second with no guarantee of success.

On average the Bitcoin network produces a new block every 10 minutes. But for an individual miner, discovering a valid hash could take days or even months depending on the equipment. Similar to a lottery drawing, the more hashrate or “tickets” a miner has, the better the chances of hitting the jackpot. Solo miners face unpredictability, while mining pools smooth earnings over time.

Hardware Capabilities and Hashrate Output

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Bitcoin Wallet Insights: Exploring the Timeframe to Mine One Bitcoin 3

The most important factor determining the Bitcoin mining timescale is the amount of hashrate measured in hashes per second. Hashrate depends on the processing power and efficiency of mining machines like ASICs and GPUs. More powerful units with cutting-edge chips can calculate many more solutions per second.

Output also varies based on other specifications like energy draw, cooling systems, and firmware. Units purchased more recently typically boast better performance than earlier generations. Maximizing hashrate within a given budget accelerates mining output and Bitcoin earnings.

Evolving Network Difficulty

Bitcoin’s network difficulty dynamically adjusts every 2016 block to maintain an average 10-minute discovery time as the hash rate fluctuates. If mining power on the network rises, the difficulty increases proportionally to compensate. The higher the difficulty, the more guesses are required to find a valid hash.

Since Bitcoin’s inception, network difficulty has risen over 20 billion times as ASICs have become faster. This makes mining new Bitcoins much harder now than in earlier years. Even the latest equipment with high hash rates faces greater difficulty earning each coin over time.

Energy Costs and Location

The cost of electricity to power energy-intensive mining rigs can make or break profitability. Areas with lower energy prices allow miners to operate more machines at higher margins. Places with excess renewable energy tend to attract larger mining operations.

Some miners even leverage flared natural gas that would otherwise be wasted. The lower the energy expenditure, the faster miners reach the breakeven point on equipment costs. Optimizing energy infrastructure is key to maximizing mining velocity.

Bitcoin’s Diminishing Block Subsidy

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Bitcoin Wallet Insights: Exploring the Timeframe to Mine One Bitcoin 4

When originally launched, successfully mining one block awarded miners 50 Bitcoins. However, Bitcoin’s code reduces this block subsidy by half roughly every four years. In mid-2024 the next halving will drop the reward to just 3.125 Bitcoins per block solved.

As the block subsidy declines, mining each Bitcoin requires more time and resources. After the next few halvings pass, most mined coins will come from transaction fees rather than the subsidy. This gradually slows the minting of new Bitcoins over time by design.

Conclusion

While Bitcoin mining may seem straightforward at first glance, the actual timeline for acquiring coins is influenced by a complex interplay of factors. These include a miner’s hashrate capabilities, network difficulty, energy infrastructure, and the diminishing block subsidy. To succeed, miners must optimize across these variables.

As your Bitcoin wallet holding matures, the process of minting new coins naturally becomes more challenging. However, by leveraging economies of scale, access to low-cost power, and the latest hardware technology, miners persist in securing the network and facilitating the issuance of new Bitcoin.

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Sastanaqqam Company Sets New Milestone with Move to Dubai’s One Central, Joining Leading Crypto Innovators

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Sastanaqqam Company, a visionary in the blockchain and Web 3.0 domains, has announced its strategic relocaon to the renowned One Central district in Dubai by the end of March. This move places Sastanaqqam in the epicenter of leading names in the cryptocurrency industry, signifying its burgeoning influence in the global hub for digital asset innovaon.

One Central has become a pivotal hub for cryptocurrency enterprises, known for its state-of-the-art facilies and a business-friendly regulatory environment. This district houses notable crypto enes like Bybit’s global headquarters and the, a hub for cryptographic and blockchain technologies.

Sastanaqqam’s relocaon to One Central reflects its alignment with Dubai’s vision as a leader in technological advancement and financial innovaon. “Our move to One Central isn’t just a relocaon; it’s a strategic decision to integrate with a community at the forefront of blockchain and digital currencies,” said Azzi Mohamed Mbarek, COO of Sastanaqqam.

The decision to establish a base in One Central, alongside pioneering crypto plaorms such as Deribit, underscores Sastanaqqam’s ambion to be at the forefront of the crypto revoluon. Dubai’s One Central offers an environment ripe for collaboraon, innovaon, and growth, making it an ideal locaon for Sastanaqqam’s expansion.

In ancipaon of this significant move, Sastanaqqam is ramping up its recruitment efforts, aiming to atract top talent in blockchain and fintech. The new office in One Central will be equipped with the latest technology and designed to foster innovaon and collaboraon.

Local businesses and the community in One Central are excited about Sastanaqqam’s arrival. “Sastanaqqam’s addion to One Central is not just a boost to our local economy; it also reinforces our status as a leading tech and financial hub,” shared [Local Business Owner’s Name].

Sastanaqqam’s relocaon to One Central marks a significant chapter in Dubai’s emergence as a global leader in technology and digital assets. This move is poised to open new avenues for collaboraon and innovaon in the cryptocurrency sector.

About Sastanaqqam:

Established in 2021, Sastanaqqam is a visionary company specializing in blockchain and Web 3.0 technologies, with a focus on integrang art, gaming, and DeFi to create a comprehensive digital ecosystem.

For further informaon, visit: htps://sastanaqqam.io/

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Top Korean game developer Wemade to exhibit at Taipei Game Show for the first time

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  • Visitors are among the first Asian audiences outside of Korea to preview Night Crows Global and Fantastic4 Baseball
  • Night Crows Global combines breathtaking visuals, immersive gameplay and massive-scale battles with advanced tokenomics and omnichain support
  • Fantastic4 Baseball lets gamers manage and control teams of real-life players from different professional leagues including the Chinese Professional Baseball League

Leading South Korea-based global game developer WEMADE will be exhibiting for the first time at the Taipei Game Show 2024, to be held at the Nangang Exhibition Center from January 25th to 28th. Wemade will be showcasing the Web3 version of “Night Crows”, the blockbuster MMORPG developed by game studio MADNGINE and Round1 Studio’s baseball simulation game “Fantastic4 Baseball”. Visitors to the show will get the chance to be among the first gaming fans outside of Korea to preview and play both games for the first time, and also take part in a variety of other exciting activities.

One of South Korea’s most successful mobile game launches of 2023, Night Crows is built using Unreal Engine 5’s groundbreaking features for creating massive open worlds in incredible high-fidelity detail. The upcoming Web3 version is a feat of expansive world-building and story-telling that combines breathtaking visuals, immersive gameplay and massive-scale battles with advanced tokenomics, NFT minting and trading, and omnichain support. 

Fantastic4 Baseball is a mobile baseball sports simulation game that features high-quality graphics, intuitive and easy-to-use operation methods, and a realistic reproduction of the game of baseball. Gamers get the chance to manage and control teams of real-life players from different professional leagues including the Chinese Professional Baseball League (CPBL), Taiwan’s top-tier professional baseball league. Pre-registration for Night Crows Global is now open with both games scheduled to be launched by the end of Q1 2024.

Organized by the Taipei Computer Association, the Taipei Game Show has been held for over 20 years since 2003, and is Asia’s first annual international gaming exhibition. Recognized as a significant business platform by the industry, its diverse showcase content and comprehensive business matchmaking services attract over 2,500 business visitors from more than 40 countries/regions each year, making it the most noteworthy gaming exhibition in the Asia-Pacific region.

About WEMADE

Part of the first generation of Korean PC online game developers and Korean mobile game developers, Wemade is at the forefront of the next wave of Web3 game developers that are innovating with blockchain technology. Based on the WEMIX3.0 Mainnet, the WEMIX PLAY blockchain gaming platform is the world’s biggest with millions of users and a wide range of game genres from card, puzzle, simulation and strategy games; to first-person shooters, battle royale, MOBA, MMORPG, SNG, sports games and more. Visit www.wemix.com/communication / www.wemixplay.com for more information. 

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