While their structures differ, Multisig wallets and social recovery wallets both rely on guardians, which essentially serve as external sources to recover funds or approve transactions. Generally, Guardians can be sets of external wallets belonging to the same individual, or addresses controlled by other people/entities.
According to Buterin, it’s important to decentralize wallet guardians, as owning more than one of your guardians provides a “tricky tradeoff: you get to trust other people less, but you're also concentrating more power into yourself, which can create a risk if you get hacked, coerced, or incapacitated or die.”
“My rule of thumb is that enough guardians should be controlled by other people that if you disappear there are enough other guardians left to recover your funds.” Buterin went on to advise that someone’s set of guardians should not know of each other, as this “greatly reduces the risk that they collude” to attack their wallets and assets, however they should still be able to find each other in the case of something happening to the wallet owner.
It’s a tantalizing idea. Probably need something as an option to speed up adoption
I just share my ownr wallet seed phrase with the most important person of my life
This is certainly food for thought.
All I can say is invest in Shiba Inu now, before its too late. SHIBARMYSTRONG