Knowledge Notes | Upgradeable Contracts
① During an upgrade, an account with upgrade permissions changes the proxy contract to point to a new logic contract. The address used by users remains unchanged, but the execution logic changes.
② The proxy pattern divides a contract into two parts: the proxy contract that users interact with handles storage and assets, while the actual business logic is written in a separate logic contract.
③ Before depositing funds, check in a block explorer whether the contract is a proxy contract, which address has permission to upgrade it, and whether there is a timelock.
$ETH 1815.1 (-4.4%)
① During an upgrade, an account with upgrade permissions changes the proxy contract to point to a new logic contract. The address used by users remains unchanged, but the execution logic changes.
② The proxy pattern divides a contract into two parts: the proxy contract that users interact with handles storage and assets, while the actual business logic is written in a separate logic contract.
③ Before depositing funds, check in a block explorer whether the contract is a proxy contract, which address has permission to upgrade it, and whether there is a timelock.
$ETH 1815.1 (-4.4%)