It's the beacon (aka pivot point) that holds the implementation that all Accounts read from.
It acts exactly as designed by Open Zeppelin's UpgradeableBeaconarrow-up-right contract, and no modifications nor custom strategies have been made, like in the case of ozUpgradeableBeacon from L1.
ozUpgradeableBeacon
All of this contract's methods can be found in Open Zeppelin's link from above.
Last updated 2 years ago