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How does a Social Recovery Wallet differ from Shamir backup?

Etherum Reddit

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I'll try and take a first stab, but feel free to correct me.

Social recovery wallets

  • are smart contract based
  • Specific to two providers- argent and loop ring
  • Involve splitting your private key into pieces and shared with guardians. Consensus of guardians can re-give you access

Shamir backup

  • Can be used with hardware wallets
  • Splits your private key into multiple shards, accessed through multiple recovery phrases. Having a majority of the shards will give you access

They sound very similar but I am not certain of the specific risk factors between each.

Edit: private keys, not public

submitted by /u/bomberdual
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