b9_1155what is renounced ownership?
when a contract's owner role is given up.
it only removes the owner role. other roles, or a proxy admin who can replace the code, may still exist, so renounced powers can be bypassed.
related words
- mint and freeze authority (solana) on solana, the keys allowed to create new tokens or freeze token accounts.
- upgradeable contract (proxy) a setup where a contract's code can be replaced while its address and balances stay the same.
- minting creating new tokens.
part of the topic whitepapers: free articles, more words and the guide.
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