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
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