SingularDTV wallet review

SingularDTV
Very basic Ease of use,  High Privacy,  User Private Keys Stored

As the blockchain and decentralized revolution continues to grow, new platforms emerge. SingularDTV is a tokenized ecosystem meant to empower artists to control rights and royalties and create project funding campaigns on a decentralized exchange for artists. It is crowd funded, the equity is shared between token holders and it is centrally managed. Their wallet is meant for storing SGLS tokens.

SingularDTV LightWallet provides only basic functionalities meant to serve company needs. The wallet has been in beta version for over a year now and no significant functionalities have been added (Dec 2017). Considering that SNGLS (S-DTV token) are ERC20 and can be stored on most ETH wallets, the team probably decided is best to focus on unique modules of their ecosystem.

Company / organization behind the wallets

SingularDTV is a Swiss based company dedicated to building a decentralized entertainment industry through partnerships with MME (the legal firm behind the formation of the Ethereum foundation), ConsenSys and Centrality. For 2017 the company has extended to China, South America, and plans launching 5 of the 11 modules of their ecosystem and the first artist token: Gramatik.

Language Support

  • English

Supported Systems

  • Online Only

SingularDTV LightWallet is based on a Consensys open-source project. When connecting to remote nodes, the seed never leaves the browser and all sensitive work is client-side. Hot storage however, excludes the high level of security a crypto wallet should provide. On their site, S-DTV ethically advice users against storing large amounts of ETH thus admitting security issues might surface.

Summary:

Security
Low
2 Factor Authentication
No
Multi-Signature
No
Private Keys Stored On
User
Storage Type
Hot storage
Transactions Validation
Centralized validation
Hierarchical Deterministic
No

What happens in the event of a disaster/theft/loss?

The user has a 'root key', 'recovery phrase' or 'word seed' that can be used to regenerate private keys.

Though it provides basic functionalities and intuitive interface, Singular-DTV recommends this LightWallet to "those experienced and sophisticated in dealing with Cryptocurrency". They also advise against storing large ETH amounts. Basically, at this stage, SDTV LightWallet only serves for storing SNGLS and OMG tokens, which a sophisticated user might choose to do on a more stable ETH wallet.

Summary:

S-DTV's CODE (Centrally Organized Distributed Entity) seems a revolutionary idea for the entertainment industry. SingularDTV Lightwallet on the other hand is far less exciting. Still in beta, this token wallet provides little functionality and its security is questioned by S-DTV itself which warns against storing large amounts of ETH. As it is, the wallet only serves for storing SNGLS and OMG.

Ease of use
Very basic
Suitable For
Account activation process
Simple
Transaction fees
Dynamic Transaction fees
Setup fee
$0.00

Functionality:

  • Exchange coins crypto to crypto

SingularDTV LightWallet provides only basic functionalities meant to serve company needs. The wallet has been in beta version for over a year now and no significant functionalities have been added (Dec 2017). Considering that SNGLS (S-DTV token) are ERC20 and can be stored on most ETH wallets, the team probably decided is best to focus on unique modules of their ecosystem.

The wallet platform has built the exchange function in their own software and manages it locally.

Help and support:

  • Email
  • Facebook
  • Twitter
  • Reddit
  • LinkedIn
  • Medium

Most common customer complaint:

The wallet was reported to show incorrect balance due to out of sync nodes handled through an Infura partnership.