Once a smart contract is deployed, can it really never be changed? 🔍
The answer depends on its architecture.
Some contracts cannot be upgraded directly, while others use proxy contracts to switch the underlying implementation. The key question isn’t just whether the code is public, but also:
🔹 Who has upgrade privileges?
🔹 Are multiple signatures required?
🔹 Are there time locks and governance constraints?
🔹 Can administrators pause transactions or change critical parameters?
Being audited doesn’t mean a contract is permanently secure, and being open source doesn’t mean its permissions are appropriate.
To understand a Web3 project, you need to look not only at its code, but also at who has the power to change the rules.
Do you think upgradability is an essential capability for a protocol, or a risk that needs to be carefully managed?
#ONEANetwork #Web3 #SmartContracts
The answer depends on its architecture.
Some contracts cannot be upgraded directly, while others use proxy contracts to switch the underlying implementation. The key question isn’t just whether the code is public, but also:
🔹 Who has upgrade privileges?
🔹 Are multiple signatures required?
🔹 Are there time locks and governance constraints?
🔹 Can administrators pause transactions or change critical parameters?
Being audited doesn’t mean a contract is permanently secure, and being open source doesn’t mean its permissions are appropriate.
To understand a Web3 project, you need to look not only at its code, but also at who has the power to change the rules.
Do you think upgradability is an essential capability for a protocol, or a risk that needs to be carefully managed?
#ONEANetwork #Web3 #SmartContracts