Understanding Upgradeable Smart Contracts from a Developer’s Perspective

Smart contracts are immutable and cannot be added, modified, or eradicated once deployed. This makes it all the more safe, secure, and reliable. Although blockchain-based software tends to earn a lucrative profit from immutability, a specific degree of mutability is required to fix bugs and offer potential improvements.

Although it might look beneficial all the way, however, some cons deserve attention.

How is Immutability a con?

As we already know, the realm of software development largely depends on the ability to upgrade codes. This up-gradation is responsible for enhancing the software and reflects its working. With every new release, it improves its functionality by being a step better than the previous one.

However, coming to the con, a smart contract does not allow the up-gradation of its codes. As a result, it makes it difficult by not allowing any rectification. This is undoubtedly one of the most significant shortcomings, as let’s face it, the crypto world has witnessed a massive loss, with a few million going down the line with not being able to fix a small bug.

The immutable nature of the smart contracts is mostly reliable, and the ability to upgrade to smart contracts promises security. When talking about these, we need to mention an upgradeable blockchain smart contract.

Overview of upgradeable contract:

By now, we have analysed the nature of smart contracts and their rigid characteristics. It does not offer the liberty to alter a smart contract, even when enhancement and modification are involved. This is the underlying issue as addressed by upgradeable smart contracts. In other words, it is a process through which you can upgrade a smart contract efficiently and preserve the address, the state along with the balance of the initial contract. This complicated procedure is indeed not easy, although it might sound like one.

Tips for writing an upgradeable smart contract:

By now, we have analysed the nature of smart contracts and their rigid characteristics. It does not offer the liberty to alter a smart contract, even when enhancement and modification are involved. This is the underlying issue as addressed by upgradeable smart contracts. In other words, it is a process through which you can upgrade a smart contract efficiently and preserve the address, the state along with the balance of the initial contract. This complicated procedure is indeed not easy, although it might sound like one.

Effective blockers while writing the contracts:

As already visible, an upgradeable contract comprises varied complexities and also involves varying blockers. A primary upgradeable contract requires the following:

Creation and deployment:

It needs the deployment and creation of the new version of the existing contract and the modified code.

Manual migration of states:

The developers need to migrate the imperative states from an old contract to that of a new one.

Tackling unpreserved contract address:

A new contract changes the address as was previously utilized for contract interaction.

As a result, the entire scenario witnesses a sea of complications as there is a dire need to update the contract addresses to ensure the usage of the new one. By now, you also must be sure of how failed this process is.

By taking several approaches to create an upgradeable smart contract, it aims to achieve the following:

• A distinctive logic and data
• A partially smart contracts system
• Master-Slave contracts
• Proxy contracts
• Eternal storage contracts

Proxy Contract Methodology:

• Logic Implementation Contract:

The contract is mainly responsible for the logic and working mechanism.

• Proxy Contract:

It comprises all functionalities for delegate calls and hence is crucial primarily to delegate calls to logic contracts.

• Key Storage Contract:

The contract needs to be inherited by proxy, and logic contract

How to use upgradable storage proxy contracts?

• The first contract that is required is the storage structure. This helps to define the storage variables needed and hence is inherited by both Implementation and Proxy contracts.
• The next step is where you need a logic/implementation contract.
• The third step involves the proxy contract.

In order to make this work, it is a must to deploy the ImplementationV1 and Proxy while calling the upgrade to (address) function of the Proxy contract.

If you intend to know more, get in touch with a professional, smart contract service provider.

Testing the upgraded contract:

As the contract has been upgraded, it is crucial to check and test it. You can do so with the help of the following:

• By depositing money in the contract
• By withdrawing ETHER

Conclusion:

Thus, merely understanding upgradable smart contracts is not enough; instead, you need to evaluate them from a developer’s perspective. It is hence ideal to seek the professional services of a smart contract company offering reliable assistance. By maximizing smart contract development services, you can grab a deeper understanding of the contracts and attain a developer’s perspective.