SingularDTV has entered into the final stages of its security audit and token launch testing.
Built in partnership with venture production studio ConsenSys and Swiss crypto-valley law firm MME, the SingularDTV Smart Contract System (SCS) is the first of its kind to place Intellectual Property (IP) in the form of film, television and software projects onto the Ethereum blockchain. Additionally, SingularDTV's SCS also distributes revenue and other representations of its IP via its SNGLS token. This class of SCS is the engine that drives a new kind of organization – the tokenized ecosystem.
The lead developers behind the SingularDTV Smart Contract System hail from ConsenSys and include Solidity developers Milad Mostavi of Digital Mob, Stefan George of Gnosis and Joseph Chow of BTC Relay.
Milad Mostavi comments, "Simplicity was our focus from the beginning, how to build a Smart Contract System that was lean and efficient, with less edge cases, less attack vectors, to make safer and more secure for token holders and the Ethereum ecosystem."
Stefan George, founder and lead developer of Gnosis stated, "We hope our SingularDTV campaign contracts can set standards for future crowdsales. We developed patterns to allow easily verifiably transitions of crowdfunding states and applied security best practices developed in our community. Our revenue distribution algorithm could become the standard to allow for the safe trading of tokens with attached revenue. What we've learned will benefit future campaigns including Gnosis and hopefully many others."
Testing of SingularDTV's SCS began in early 2016 with an alpha launch of its SNGLS token. This alpha run included testing of the first ever Ethereum payment API and SNGLS token generation module, as well as marked a beginning of exploring standard operating procedures and best practices for the development and testing of Solidity code-based systems.
Joseph Chow, lead developer of BTC Relay comments, "The experience of iteratively simplifying the SingularDTV SCS, letting it bake, and re-examining it has been instructive. There were times when it looked simple and ready, and then an exploit would be inspirationally identified and fixed. We encourage the community's participation whether through the upcoming bug bounty program or creative analysis of the system."
A bug bounty is scheduled for next week as well as a public testnet launch. More details on these events forthcoming.