Casino and Sportsbook 1xBit add EOS Support, Offering Solution to Blockchain Congestion and High Fees
7th October 2020, Limassol, Cyprus – Leading Casino and Sportsbook 1xBit has announced its support for the popular EOS cryptocurrency. EOS is a Proof of Stake cryptocurrency that doesn’t require gas for transactions, and has a blockchain capable of processing up to 4,000 transactions per second. EOS will give 1xBit users a cheaper alternative to ethereum, which is straining under the weight of recent DeFi market growth.
ETH Hindered By DeFi
Ethereum is the blockchain of crypto, but its success could also become its downfall. Ethereums rise in popularity has seen its network attract a significant number of users and protocols, resulting in problematic network congestion. The ethereum network currently only supports 15 transactions a second, and this congestion has had a two-pronged effect, as transaction times take longer, the fees rise in cost.
With questions over the ethereum networks scalability, and its ability to support the explosive growth of the decentralized finance (DeFi) industry, some crypto users and app developers are looking for better alternatives. With a blockchain that does not require gas to send transactions and can cope with far more transactions per second than ETH, EOS is a cryptocurrency that is seeing a lot of traction with online betting sites, and Dapp development.
1xBit Adds EOS
1xBit supports 25 different cryptocurrencies, but BTC and ETH are the two most popular by far. Despite their popularity, both have recently been affected by significant network congestion over the last year. Most recently the ethereum network has experienced an all time high in fees, with a single transaction costing in excess of $15. By adding EOS support 1xBit now offers all kinds of gamblers a way of depositing and withdrawing funds without inflated fees.
1xBit is no stranger in having to adapt to rapid changes in the market. The Sportsebook and casino experienced a massive disruption to its site when all live sports were cancelled earlier in the year during the height of the coronavirus pandemic. 1xBit overcame this huge loss in revenue by launching Live sSports, a new betting category which enables users to watch and bet on esport in real time.
Launched in 2016 1xBit is a pro-crypto sportsbook and casino that boasts over 3000 games, and is translated into over 52 languages worldwide. Most recently the platform launched Live Games like Blackjack and roulette, in which users can play against real human dealers. The platform is completely anonymous, so players do not need to worry about regulations and declaring their winnings.
Players payouts are unaffected by currency price fluctuations, and can take advantage of instant withdrawals and deposits. The Multiple Live Sport service means that players can bet on more than one sports game at a time, on the same interface. 1xBit also offers multiple promotions including a 100% sign-up bonus, up to 7BTC.
With its new Live Games, player anonymity, 7BTC sign-up bonus, free deposits and new EOS support, the 1xBit sportsbook and casino can offer a level of freedom, flexibility and savings to satisfy even the most demanding online gambler.
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