Lead · Smart Contracts
Parity's multisig wallet had $300M locked forever after an uninitialized library contract got accidentally self-destructed — easy upgradeability and security have been two sides of the same coin from the start.
Emma Blackwell
·
September 03, 2026
Smart contracts have a fundamental property by design: once deployed, the code can't be changed — this is the foundation of the "immutability" trust guarantee. But real-world protocols need ongoing bug fixes and new features, so the "proxy pattern" became the industry-standard solution — letting a contract's underlying logic stay swappable beneath a surface that appears immutable. This article...