We will be talking about everything Web3 and Blockchain. Apart from the weekly Podcast, we will also use this platform to include keynote speeches our team presents. We will keep this light and fun, and easy to listen to. We will dive deep into the technology from time to time, but our goal is to educate and bring all of you on the Web3 journey with us.
We will talk about popular technologies such as Blockchain, Development, NFTs and Crypto, and please be advised whatever is spoken about here is not financial advice.
The subject of this week’s episode was presented by the Blockstars Web3 Weekly podcast; episode 46 discusses the upgradeable smart contracts. Dr. Muhammad, a smart-contract expert, the team delve into the technical part of the upgradable contracts, their need, issue and advantages. The conversation also touches on the broader implications of upgradeable contracts for blockchain development, governance, and the necessity of thorough security and functionality audits to ensure reliability and trust.
Overview of upgradeable smart contracts and comparison with typical immutable contracts.
Debate on upgradeability in smart contracts to solve post deployment vulnerabilities and changing needs of applications.
Upgradeable contracts works using an explanation including the use of proxy contracts and the separation of logic and storage.
Study of the centralisation risks and security issues surrounding upgradeable contracts.
Understanding of the technical peculiarities of upgradeable contracts control and audit, including the notion of diamond contracts and the contribution of facets to modular contract construction.
How do upgradable contracts balance the blockchain immutability principle with the necessity to adapt the smart contract functionality?
What are the main security considerations and risks in the implementation of upgradeable contracts and how can they be addressed?
Who is smart contract auditor?
Who guarantees the accuracy of a smart contract?
How much does a smart contract audit cost? How hard is smart contract auditing?
Who is the smart contract auditor in Australia? How do you become a smart contract auditor?
Can Chatgpt audit smart contracts?
What does a concept of upgradeable contracts do to decentralised ideology of blockchain technology?
How does a developer and the organisation manage the intricacies of the upgrade of contracts without undermining the trust and integrity of the system?
What is the future of smart contract upgradeability and what will next generation of blockchain applications look like?
Blockstars Web3 Weekly Episode 46 deeply examines upgradeable smart contracts giving them the attention that they deserve in the dynamic world of blockchain technology. Irrespective of the flexibility and adaptability, some unique challenges and considerations are presented when upgradeable contracts are considered, especially regarding the security and decentralisation. The debate highlights the need for prudent design and thorough auditing and open governance in the implementation and maintenance of upgradable smart contracts.
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