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To be concise, Tally Ho wallet is probably a little bit of both. If you do nothing else but read this first paragraph, here goes: The Tally Ho Wallet is not just another wallet, but sets itself apart by attempting to be the first Web3 wallet - Private, Secure, Decentralized, User-owned. This does not make it a game-changer for the industry......yet. That may seem like a cop out of an answer, but I believe it is an honest assessment of what this wallet is, and what it hopes to be.
The Good:
Tally Ho is a decentralized autonomous organization (DAO), without a centralized hierarchy.
Its source code is open source and can be examined by anyone on GitHub which ensures its security and openness.
It does not keep control of your keys needed to access your wallet.
It is built and owned by the community, and cannot make wholesale changes without approval from this community.
Free to use, requiring no personal information to sign up.
A privacy policy that states in part, "When we are no longer required to retain your personal information, we will delete, erase, or de-identify your personal information as required by applicable law." I like that.
This stands in contrast to METAMASK which has made its source code proprietary and charges twice as much in swap fees. I prefer a company that has to maintain a standard that must withstand public auditing of their code, and Tally Ho stands as a clearly better alternative to me for that alone.
More Info:
Security highlights
https://tally.cash/security
A third-party audit of Tally Ho key handling conducted by YLVIS LLC in March, 2022
https://leastauthority.com/static/publications/LeastAuthority-YLVIS_LLC_Tally_Browser_Extension_Wallet_Key_Handling_Final_Audit_Report.pdf
"dog-umentation" for Tally Ho
https://docs.tally.cash/tally/
Privacy Policy
https://tally.cash/privacy/
Ultimately, Tally Ho offers a security and privacy focused wallet that functionally provides nothing new but holds promise to scale and evolve better into the future, like many Free and Open Source Software has since the beginning of the Internet.
Additionally, there has been news of a Tally Ho wallet token called DOGGO, which will have an airdrop at some point into the future, but posts about this began in March of this year and so far nothing has happened. This is nothing new in the crypto space (See: Ethereum's eternally upcoming Merge) but can be frustrating to some.
Still, if the "bad" news is that it does nothing special besides being more secure or community focused, I have to be honest that doesn't sound all that bad to me.
AirDrop Chatter Links.
https://gov.tally.cash/t/update-wen-doggo/526
https://medium.com/coinscapture/6-best-crypto-airdrops-to-look-out-for-in-july-2022-ad9e82ac0f3c
https://coinworldstory.com/tally-ho-airdrop/
The Ugly:
Just kidding.
The Future:
It may be Tally Ho wallet is the beginning of the end for centralized finance, or it is just another wallet in an ever-growing sea of them. I certainly make no claim one way or the other, but I am glad this competition brought it to my attention and forced me to learn more. Thank you for reading.
None of what is written should be taken as financial advice, or recommendations do your own research and please feel free with any comments to help improve my writing or content.
I hope your time was well spent,
Romulus.
