1. deactivate all third-party plugins.
2. turn on 'Maintenance mode" in Admin Panel >Pages&Menus > Maintenance Page
3. enable DEBUG mode ( set to "true" in ow_includes/config.php)
4. perform platform update.
5. update native Oxwall plugins.
6. update your theme.

6.1 disable debug mode
7. enable DEV mod in ow_includes/config.php
8. Turn "Maintenance Mode" off.
9. refresh any site page and disable DEV MODE: define('OW_DEV_MODE', false);

If everything is ok, activate and update third party plugins one by one. Check your site after updating each plugin. Contact plugin developer if you get any issues.

After update has been comleted make sure that ow_logs folder got renamed to  ow_log.