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What is Social Recovery Wallet?
A social recovery wallet lets trusted contacts (guardians) help you recover your wallet if you lose access, with no seed phrase needed. Vitalik Buterin advocates for this approach.
Full Explanation
Social recovery wallets assign "guardians" (trusted friends, family, or institutions) who can collectively approve a wallet recovery. If you lose your key, a majority of guardians (e.g., 3 out of 5) can authorize transferring your funds to a new key. This solves the biggest UX problem in crypto: losing your seed phrase means losing everything. Argent wallet on StarkNet implements social recovery. This is part of the account abstraction movement making wallets more user-friendly.