What is Tally Ho?

Tally Ho is an open-source and community-owned wallet that works through DAO which caught my attention because it shows the real meaning of decentralization.

The best feature of Tally Ho that is unique and different from other wallets is that it is operated by the users where the revenue will go back to the community.

In August 2021, Tally Ho was announced to be the first community-owned wallet.

How to setup your Tally Ho Web 3.0 Wallet?

As of writing, Tally Ho is available on desktop by the use of chrome extension where you can install it in Google Chrome, Firefox, and Brave Browser.

First, download its extension by choosing the browser that you are using. In my case, I use Brave Browser.

Add this to your browser and start downloading the extension.

After downloading, you have to enter your wallet password. make sure to use a stronger password for your security. I recommend inputting a password that has at least 1-2 uppercase, lowercase, numbers, and symbols so it is not easy to guess.

Once done, create a new wallet. You can import your recovery seed phrase from Metamask, but since Tally Ho is still under development, don’t put your life savings in it.

Tally Ho will give you 24 random combinations of words, this will be your seed phrase. Make sure to keep it safe so no one can access your funds.

After saving, you can now access your Web 3.0 and open-source wallet.

As of now, it has only two networks.

You can also customize your wallet by renaming it. 

What is the purpose of renaming?

Well, if you have multiple wallets, you can import them one-by-one and manage it all in Tally Ho by adding a wallet then choosing between import wallet or create a new wallet.

Is Tally Ho safe?

I will leave the answer to you, but this community-owned wallet is supported by big and popular projects in Web 3.0.

but a little reminder, Tally Ho is in its early stage so it is possible to experience bugs. If you are experiencing bugs and errors, you can contact them on their Discord server.

Conclusion

This could be the Metamask competitor because of its potential, being the first community-owned Web 3.0 wallet, and being open to its community.

Now that you have learned about Tally Ho, are you going to consider using an open-source, community owned, and Web 3.0 wallet?