Introduction
Tally-Ho being a METAMASK competitor is clear by the name. The word “tally-ho” is derived from 1772 utilized for hounds to excite them when hunting deer. The term was also used by huntsman when alerting other hunters and hounds of a fox sighting. If you have not noticed, Metamask uses a fox as its logo and Tally-Ho has a dog. So, off the bat, Tally-Ho means to become a valid competitor for Metamask. But what makes this wallet better than the rest? Also, how can it take down Metamask’s reign? Hopefully I will be able to give some insights on why you should consider utilizing this wallet over Metamask.
Tally-Ho Vs. MetaMask
Metamask changed the game due to its ability to be utilized on multiple Web3 platforms. But the key difference in Tally-Ho is that it is completely owned by the community. As I have stated before, Web3 means connection/community but also ownership. Ownership is key and Web3 projects should understand that the community is everything without the community, Web3 project do not survive. But one might say Metamask is still thriving, it is but never has Metamask faced competition like this. The fact that Tally-Ho embraces openness and open source for the community is a major determining factor in this wallet project thriving and surviving now and in the future.
Open-Culture, Open Finance, Open Source
Tally-Ho welcomes open-finance, open-culture and open-source. Open-finance is the ability to use permissionless finance. For instance, no institution needed, bank or middlemen, we call this DeFi or decentralized finance. This is important because it provides freedom for all to take control over their finances and utilize said finances as one pleases within Web3. Open-culture is sharing to build better technological advances by collaboration. Open-source allows those with coding skills or understanding technologies to provide information to make projects run smoothly and more secure. In many ways, one could say open source created DAOs or decentralized autonomous organizations. DAOs, allow anyone from anywhere the ability to contribute to governing projects or the community. It is safe to say that Tally-Ho is open to building a community that supports ownership and to actually go against centralized establishments.
Decentralize Autonomous Organizations or DAO
Tally-Ho developed a DAO within their wallet to allow the community to vote and contribute to future ideas. Also, any fees generated from transactions will go to the community and not a select few. Tally-Ho can be utilized on any Web3 platform that uses Metamask, therefore you can get away from Metamask and utilize Tally-Ho and do the same things. Why? Because Metamask unfortunately moved from open-source to propriety license therefore charging higher fees for transactions. Another reason to switch from the fox to the dog, less fees for swapping.
Well, we know all of this sounds good but what about security? Tally-Ho prides itself in providing transparency, no personal information is collected, you own your keys. LEDGER or a hard wallet connects so if you don’t want to keep your digital assets on the Tally-Ho web wallet then you can move them to your Ledger. Independently audited by the most respected security firms and the findings are transparent. As with anything in Web3, there are risks. It seems that Tally-Ho wants to change the narrative on hacks and malware, but it is still a new project, and you are responsible for your own assets. To protect yourself, start out small don’t put your whole life savings in your wallet. Utilize a hard wallet, like Ledger to keep your digital assets safe. Protect your keys and never share that with anyone. If you’ve been in this space for a while, then you know how to stay safe.
Conclusion
Overall, Tally-Ho is very interesting project, especially with the current mistrust of centralization. If interested, follow this page; Tally Ho — The community owned & operated wallet and download Tally-Ho wallet, join the discord, and follow them on Twitter, this is an early project and looks promising and promotes everything that makes Web3, Web3. As Always, ALL THE BEST!!#TallyHoWallet
