An overview

Everyone is aware of blockchain‘s immutability feature, which is unquestionably one of its most appealing features in some ways.

However, it isn’t always beneficial because there must be an assumption that a deployed smart contract contains a flaw and holds users funds.

The developers should repair the bug(s) as soon as possible, just like they would in Web2 applications but it’s not the case when it comes to Web3 development.

Such extensive updates are not possible via smart contract paradigms on their own.
Investors who are reading this Novoos section of the whitepaper must have been in projects where they have a bug or an issue with their contract, they deploy a new one, airdrop or ask you to send tokens to their new contract or a wallet.

This also brings rise to additional scams where clones can take over and investors lose their tokens they had brought with downtime and loss of precious time that could be allocated to other important parts of the project itself.

When there is a bug or issues existent, the developers must create a new contract and keep doing this for each addition or bug fixes and this is not the case for $NOVO as we are using the latest technology of upgradeable contracts that is not being implemented by most of the projects you are part of that have implemented this, $NOVO has already their due diligence in this regard.

The NAC is also beneficial as when an auditor states certain recommendations, these can be implemented right away without any inconvenience to investors at all and therefore the project.

While it doesn’t seem like a benefit at first, it’ll be a major burden as the codebase expands and new features are added, Novoos can do this with minimum disruption and on the fly.

With standard contracts, data must be moved from one contract to another to reflect the protocol’s current condition.

Although physical limitations may prevent you from upgrading certain components, the solution to this problem is to employ different upgradability patterns which have been implemented by $NOVO already.

The proxy pattern, in particular, is considered the most genuine form of upgradability, we are using a more advanced protocol with transparency methods which are more secure.

When we talk about upgradability, it means that the investor continues to interact with the same contract (proxy), but the underlying logic can be upgraded as needed without losing any past data on the blockchain.

The $NOVO contract protocol has several advantages and follows recommended patterns without the security concerns that are existent in current upgradeable contracts, which are scarce in themselves.

The NAC protocol is not a simple and straight forward upgradeable protocol, and the standard has been raised.

The $NOVO contract is exclusively a rather gas-efficient surrogate pattern, and it has several benefits.