In ArcheAge, there are two measurements of time players must be aware of. The first is Real-Time. In Real-Time, every minute in-game is equal to 1 minute in real-time. The second is Time of Day. The top right corner, where your minimap is located, shows the time for the Time of Day for in-game time. This is different than most of the other measurements of time in ArcheAge. Every 10 seconds in real time is equal to 1 minute in-game. To illustrate this concept, I show the following:
The time on the image shows 8:51 pm, but the real-time is not 8:51 pm. My real-time is actually 8:26 pm. But don't let that similarity fool you. Every 10 seconds in real-time is 1 minute on this clock. That's 6 minutes in-game for every 1 minute in real-time. If you take the 60 minutes for an hour and divide that by 6 (60 minutes per 1 in-game hour/ 6 in-game minutes) you get how many real-time minutes makes an hour, which comes to 10 minutes in real-time.
Other aspects of the game uses real-time, such as the PvP Warzones. Show below is a map of Rookborne Basin while it is in stage 4 vulnerability (Unrest), shown in the lower left corner of the map.
The Vulnerability depends on how much active PvP is taking place in the zone (the phase changes every 100 PvP deaths). Once the vulnerability reaches 5, a war can break out. The war lasts 1 hour and 20 minutes real-time. Once the timer on the war ends, there is a 2 hour peace period. These are all in real-time.
Another example of real-time awareness you need to know is item timers. If the item you have in your inventory says "lasts 3 days," it actually only lasts 3 days from the time you acquire it or unpack it. Also, plants and animals on farms have timers. These too run on real-time. If you plant a tree and its timer says "2 days, 59 minutes, 59 seconds," that means the tree will mature to its fullest in just under 3 days. At which time another timer spawns, which time another timer spawns. this timer is usually not visible, and is used by the engine to determine how long the tree will stay in the game world before it goes POOF!
So, to recap this very short segment, events that use the time of day timer, like the level 15 quest in the junkyard of Tiderspine Mountains, the events occur every so many minutes/ hours and go by 1 minute real-time per 6 minutes in game, while everything else uses real-time.