Smart Contract Upgradeability Mechanics: Proxy Patterns, Governance Controls, and Investor Risk Assessment
Introduction: Why Upgradeability Dominates Web3 Conversations
Smart contracts introduce unstoppable logic to decentralized applications, yet the pace of innovation, bug discoveries, and regulatory shifts means the underlying code often needs to evolve. Upgradeability mechanisms allow teams to patch vulnerabilities, add features, or tweak tokenomics without migrating users to a new