Upgradeability / Proxy Contract
Last updated 17 October 2026Last verified 17 October 2026
What is upgradeability in smart contracts?
A design pattern where a smart contract's logic can be modified after deployment via a proxy contract that delegates calls to an implementation contract that can be swapped. Enables bug fixes and new features, but reintroduces the centralization risk that self-executing contracts are meant to eliminate: whoever controls the upgrade key can change how the contract handles user funds, with or without governance approval. Audit reports should specify whether a contract is upgradeable and who holds the upgrade authority.
TradFi equivalentA unilateral right to amend the terms after signing. It restores the ability to fix errors and reintroduces exactly the counterparty discretion a self-executing contract was meant to remove.