Named and Concurrent License Difference

Hi Team,

Which license type should I opt for?
Named User License or Concurrent User License?

What is the difference?

Named User licenses empowers to enable Robots on Machine in sync with named user that is available in the directory.

Concurrent User licenses - enables users to consume robots concurrently. This helps the users who works in shifts. This type of licenses help users to run robots in multiple user sessions, with the same license.

If I apply for 1 concurrent bot license, how many bots can I create?

What is the relationship, can anyone explain?

For concurrent license, the total number of users/bots are n^2.
i.e. for 5 concurrent license, total number of bot are 25.

Does that mean for 1 concurrent bot license, I will be able to create only 1 bot?