diff --git a/Cargo.toml b/Cargo.toml
index 6ca8c4dd..1342ae8c 100644
--- a/Cargo.toml
+++ b/Cargo.toml
@@ -62,35 +62,34 @@ atomic = "0.5.0"
 bytes = "0.5"
 futures = "0.3.1"
 lazy_static = "1.2"
-libp2p-core = { version = "0.24.0", path = "core" }
+libp2p-core = { version = "0.25.0", path = "core" }
 libp2p-core-derive = { version = "0.20.2", path = "misc/core-derive" }
-libp2p-floodsub = { version = "0.24.0", path = "protocols/floodsub", optional = true }
-libp2p-gossipsub = { version = "0.24.0", path = "./protocols/gossipsub", optional = true }
-libp2p-identify = { version = "0.24.0", path = "protocols/identify", optional = true }
-libp2p-kad = { version = "0.25.0", path = "protocols/kad", optional = true }
-libp2p-mplex = { version = "0.24.0", path = "muxers/mplex", optional = true }
-libp2p-noise = { version = "0.26.0", path = "protocols/noise", optional = true }
-libp2p-ping = { version = "0.24.0", path = "protocols/ping", optional = true }
-libp2p-plaintext = { version = "0.24.1", path = "protocols/plaintext", optional = true }
+libp2p-floodsub = { version = "0.25.0", path = "protocols/floodsub", optional = true }
+libp2p-gossipsub = { version = "0.25.0", path = "./protocols/gossipsub", optional = true }
+libp2p-identify = { version = "0.25.0", path = "protocols/identify", optional = true }
+libp2p-kad = { version = "0.26.0", path = "protocols/kad", optional = true }
+libp2p-mplex = { version = "0.25.0", path = "muxers/mplex", optional = true }
+libp2p-noise = { version = "0.27.0", path = "protocols/noise", optional = true }
+libp2p-ping = { version = "0.25.0", path = "protocols/ping", optional = true }
+libp2p-plaintext = { version = "0.25.0", path = "protocols/plaintext", optional = true }
 libp2p-pnet = { version = "0.19.2", path = "protocols/pnet", optional = true }
-libp2p-request-response = { version = "0.5.0", path = "protocols/request-response", optional = true }
-libp2p-swarm = { version = "0.24.0", path = "swarm" }
-libp2p-uds = { version = "0.24.0", path = "transports/uds", optional = true }
-libp2p-wasm-ext = { version = "0.24.0", path = "transports/wasm-ext", optional = true }
-libp2p-yamux = { version = "0.27.0", path = "muxers/yamux", optional = true }
+libp2p-request-response = { version = "0.6.0", path = "protocols/request-response", optional = true }
+libp2p-swarm = { version = "0.25.0", path = "swarm" }
+libp2p-uds = { version = "0.25.0", path = "transports/uds", optional = true }
+libp2p-wasm-ext = { version = "0.25.0", path = "transports/wasm-ext", optional = true }
+libp2p-yamux = { version = "0.28.0", path = "muxers/yamux", optional = true }
 multiaddr = { package = "parity-multiaddr", version = "0.9.4", path = "misc/multiaddr" }
-multihash = "0.11.3"
 parking_lot = "0.11.0"
 pin-project = "1.0.0"
 smallvec = "1.0"
 wasm-timer = "0.2.4"
 
 [target.'cfg(not(any(target_os = "emscripten", target_os = "wasi", target_os = "unknown")))'.dependencies]
-libp2p-deflate = { version = "0.24.0", path = "protocols/deflate", optional = true }
-libp2p-dns = { version = "0.24.0", path = "transports/dns", optional = true }
-libp2p-mdns = { version = "0.24.0", path = "protocols/mdns", optional = true }
-libp2p-tcp = { version = "0.24.0", path = "transports/tcp", optional = true }
-libp2p-websocket = { version = "0.25.0", path = "transports/websocket", optional = true }
+libp2p-deflate = { version = "0.25.0", path = "protocols/deflate", optional = true }
+libp2p-dns = { version = "0.25.0", path = "transports/dns", optional = true }
+libp2p-mdns = { version = "0.25.0", path = "protocols/mdns", optional = true }
+libp2p-tcp = { version = "0.25.0", path = "transports/tcp", optional = true }
+libp2p-websocket = { version = "0.26.0", path = "transports/websocket", optional = true }
 
 [dev-dependencies]
 async-std = "1.6.2"
diff --git a/core/CHANGELOG.md b/core/CHANGELOG.md
index 10fe52ec..837c2221 100644
--- a/core/CHANGELOG.md
+++ b/core/CHANGELOG.md
@@ -1,3 +1,7 @@
+# 0.25.0 [unreleased]
+
+- Update `multihash`.
+
 # 0.24.0 [2020-11-09]
 
 - Remove `ConnectionInfo` trait and replace it with `PeerId`
diff --git a/core/Cargo.toml b/core/Cargo.toml
index 85f822da..5e8724cd 100644
--- a/core/Cargo.toml
+++ b/core/Cargo.toml
@@ -2,7 +2,7 @@
 name = "libp2p-core"
 edition = "2018"
 description = "Core traits and structs of libp2p"
-version = "0.24.0"
+version = "0.25.0"
 authors = ["Parity Technologies <admin@parity.io>"]
 license = "MIT"
 repository = "https://github.com/libp2p/rust-libp2p"
@@ -12,6 +12,7 @@ categories = ["network-programming", "asynchronous"]
 [dependencies]
 asn1_der = "0.6.1"
 bs58 = "0.4.0"
+bytes = "0.5"
 ed25519-dalek = "1.0.1"
 either = "1.5"
 fnv = "1.0"
@@ -21,7 +22,7 @@ lazy_static = "1.2"
 libsecp256k1 = { version = "0.3.1", optional = true }
 log = "0.4"
 multiaddr = { package = "parity-multiaddr", version = "0.9.4", path = "../misc/multiaddr" }
-multihash = "0.11.3"
+multihash = { version = "0.13", default-features = false, features = ["std", "multihash-impl", "identity", "sha2"] }
 multistream-select = { version = "0.8.5", path = "../misc/multistream-select" }
 parking_lot = "0.11.0"
 pin-project = "1.0.0"
@@ -43,6 +44,7 @@ async-std = "1.6.2"
 libp2p-mplex = { path = "../muxers/mplex" }
 libp2p-noise = { path = "../protocols/noise" }
 libp2p-tcp = { path = "../transports/tcp", features = ["async-std"] }
+multihash = { version = "0.13", default-features = false, features = ["arb"] }
 quickcheck = "0.9.0"
 wasm-timer = "0.2"
 
diff --git a/core/src/lib.rs b/core/src/lib.rs
index e27f13f1..e2836a1e 100644
--- a/core/src/lib.rs
+++ b/core/src/lib.rs
@@ -55,6 +55,7 @@ pub mod transport;
 pub mod upgrade;
 
 pub use multiaddr::Multiaddr;
+pub use multihash;
 pub use muxing::StreamMuxer;
 pub use peer_id::PeerId;
 pub use identity::PublicKey;
diff --git a/core/src/peer_id.rs b/core/src/peer_id.rs
index 0a54ae57..383e9215 100644
--- a/core/src/peer_id.rs
+++ b/core/src/peer_id.rs
@@ -19,9 +19,10 @@
 // DEALINGS IN THE SOFTWARE.
 
 use crate::PublicKey;
+use bytes::Bytes;
 use bs58;
 use thiserror::Error;
-use multihash::{self, Code, Multihash};
+use multihash::{Code, Multihash, MultihashDigest};
 use rand::Rng;
 use std::{convert::TryFrom, borrow::Borrow, fmt, hash, str::FromStr, cmp};
 
@@ -35,7 +36,7 @@ const MAX_INLINE_KEY_LENGTH: usize = 42;
 // TODO: maybe keep things in decoded version?
 #[derive(Clone, Eq)]
 pub struct PeerId {
-    multihash: Multihash,
+    multihash: Bytes,
 }
 
 impl fmt::Debug for PeerId {
@@ -78,7 +79,7 @@ impl PeerId {
             Code::Sha2_256
         };
 
-        let multihash = hash_algorithm.digest(&key_enc);
+        let multihash = hash_algorithm.digest(&key_enc).to_bytes().into();
 
         PeerId { multihash }
     }
@@ -86,9 +87,9 @@ impl PeerId {
     /// Checks whether `data` is a valid `PeerId`. If so, returns the `PeerId`. If not, returns
     /// back the data as an error.
     pub fn from_bytes(data: Vec<u8>) -> Result<PeerId, Vec<u8>> {
-        match Multihash::from_bytes(data) {
-            Ok(multihash) => PeerId::from_multihash(multihash).map_err(Multihash::into_bytes),
-            Err(err) => Err(err.data),
+        match Multihash::from_bytes(&data) {
+            Ok(multihash) => PeerId::from_multihash(multihash).map_err(|_| data),
+            Err(_err) => Err(data),
         }
     }
 
@@ -98,10 +99,10 @@ impl PeerId {
     /// or the hash value does not satisfy the constraints for a hashed
     /// peer ID, it is returned as an `Err`.
     pub fn from_multihash(multihash: Multihash) -> Result<PeerId, Multihash> {
-        match multihash.algorithm() {
-            Code::Sha2_256 => Ok(PeerId { multihash }),
-            Code::Identity if multihash.digest().len() <= MAX_INLINE_KEY_LENGTH
-                => Ok(PeerId { multihash }),
+        match Code::try_from(multihash.code()) {
+            Ok(Code::Sha2_256) => Ok(PeerId { multihash: multihash.to_bytes().into() }),
+            Ok(Code::Identity) if multihash.digest().len() <= MAX_INLINE_KEY_LENGTH
+                => Ok(PeerId { multihash: multihash.to_bytes().into() }),
             _ => Err(multihash)
         }
     }
@@ -112,7 +113,8 @@ impl PeerId {
     pub fn random() -> PeerId {
         let peer_id = rand::thread_rng().gen::<[u8; 32]>();
         PeerId {
-            multihash: multihash::wrap(Code::Identity, &peer_id),
+            multihash: Multihash::wrap(Code::Identity.into(), &peer_id)
+                .expect("The digest size is never too large").to_bytes().into()
         }
     }
 
@@ -122,7 +124,7 @@ impl PeerId {
     /// equality of peer IDs. That is, two peer IDs may be considered equal
     /// while having a different byte representation as per `into_bytes`.
     pub fn into_bytes(self) -> Vec<u8> {
-        self.multihash.into_bytes()
+        self.multihash.to_vec()
     }
 
     /// Returns a raw bytes representation of this `PeerId`.
@@ -131,7 +133,7 @@ impl PeerId {
     /// equality of peer IDs. That is, two peer IDs may be considered equal
     /// while having a different byte representation as per `as_bytes`.
     pub fn as_bytes(&self) -> &[u8] {
-        self.multihash.as_bytes()
+        &self.multihash
     }
 
     /// Returns a base-58 encoded string of this `PeerId`.
@@ -144,9 +146,12 @@ impl PeerId {
     /// Returns `None` if this `PeerId`s hash algorithm is not supported when encoding the
     /// given public key, otherwise `Some` boolean as the result of an equality check.
     pub fn is_public_key(&self, public_key: &PublicKey) -> Option<bool> {
-        let alg = self.multihash.algorithm();
+        let multihash = Multihash::from_bytes(&self.multihash)
+           .expect("Internal multihash is always a valid");
+        let alg = Code::try_from(multihash.code())
+            .expect("Internal multihash is always a valid `Code`");
         let enc = public_key.clone().into_protobuf_encoding();
-        Some(alg.digest(&enc) == self.multihash)
+        Some(alg.digest(&enc) == multihash)
     }
 }
 
@@ -192,7 +197,7 @@ impl PartialEq<PeerId> for PeerId {
 
 impl Borrow<[u8]> for PeerId {
     fn borrow(&self) -> &[u8] {
-        self.multihash.as_bytes()
+        &self.multihash
     }
 }
 
@@ -207,7 +212,8 @@ impl AsRef<[u8]> for PeerId {
 
 impl From<PeerId> for Multihash {
     fn from(peer_id: PeerId) -> Self {
-        peer_id.multihash
+        Multihash::from_bytes(&peer_id.multihash)
+            .expect("PeerIds always contain valid Multihashes")
     }
 }
 
diff --git a/misc/multiaddr/Cargo.toml b/misc/multiaddr/Cargo.toml
index 8260d061..f69ad5f1 100644
--- a/misc/multiaddr/Cargo.toml
+++ b/misc/multiaddr/Cargo.toml
@@ -16,7 +16,7 @@ arrayref = "0.3"
 bs58 = "0.4.0"
 byteorder = "1.3.1"
 data-encoding = "2.1"
-multihash = "0.11.3"
+multihash = { version = "0.13", default-features = false, features = ["std"] }
 percent-encoding = "2.1.0"
 serde = "1.0.70"
 static_assertions = "1.1"
diff --git a/misc/multiaddr/src/errors.rs b/misc/multiaddr/src/errors.rs
index 964cdfff..245cea1c 100644
--- a/misc/multiaddr/src/errors.rs
+++ b/misc/multiaddr/src/errors.rs
@@ -51,8 +51,8 @@ impl From<io::Error> for Error {
     }
 }
 
-impl From<multihash::DecodeOwnedError> for Error {
-    fn from(err: multihash::DecodeOwnedError) -> Error {
+impl From<multihash::Error> for Error {
+    fn from(err: multihash::Error) -> Error {
         Error::ParsingError(err.into())
     }
 }
diff --git a/misc/multiaddr/src/protocol.rs b/misc/multiaddr/src/protocol.rs
index 1ff0a8a6..14955452 100644
--- a/misc/multiaddr/src/protocol.rs
+++ b/misc/multiaddr/src/protocol.rs
@@ -156,7 +156,7 @@ impl<'a> Protocol<'a> {
             "p2p" => {
                 let s = iter.next().ok_or(Error::InvalidProtocolString)?;
                 let decoded = bs58::decode(s).into_vec()?;
-                Ok(Protocol::P2p(Multihash::from_bytes(decoded)?))
+                Ok(Protocol::P2p(Multihash::from_bytes(&decoded)?))
             }
             "http" => Ok(Protocol::Http),
             "https" => Ok(Protocol::Https),
@@ -280,7 +280,7 @@ impl<'a> Protocol<'a> {
             P2P => {
                 let (n, input) = decode::usize(input)?;
                 let (data, rest) = split_at(n, input)?;
-                Ok((Protocol::P2p(Multihash::from_bytes(data.to_owned())?), rest))
+                Ok((Protocol::P2p(Multihash::from_bytes(data)?), rest))
             }
             P2P_CIRCUIT => Ok((Protocol::P2pCircuit, input)),
             QUIC => Ok((Protocol::Quic, input)),
@@ -388,7 +388,7 @@ impl<'a> Protocol<'a> {
             }
             Protocol::P2p(multihash) => {
                 w.write_all(encode::u32(P2P, &mut buf))?;
-                let bytes = multihash.as_bytes();
+                let bytes = multihash.to_bytes();
                 w.write_all(encode::usize(bytes.len(), &mut encode::usize_buffer()))?;
                 w.write_all(&bytes)?
             }
@@ -492,7 +492,7 @@ impl<'a> fmt::Display for Protocol<'a> {
                 let s = BASE32.encode(addr.hash());
                 write!(f, "/onion3/{}:{}", s.to_lowercase(), addr.port())
             }
-            P2p(c) => write!(f, "/p2p/{}", bs58::encode(c.as_bytes()).into_string()),
+            P2p(c) => write!(f, "/p2p/{}", bs58::encode(c.to_bytes()).into_string()),
             P2pCircuit => f.write_str("/p2p-circuit"),
             Quic => f.write_str("/quic"),
             Sctp(port) => write!(f, "/sctp/{}", port),
@@ -584,4 +584,4 @@ read_onion_impl!(read_onion, 10, 16);
 // Parse a version 3 onion address and return its binary representation.
 //
 // Format: <base-32 address> ":" <port number>
-read_onion_impl!(read_onion3, 35, 56);
\ No newline at end of file
+read_onion_impl!(read_onion3, 35, 56);
diff --git a/misc/multiaddr/tests/lib.rs b/misc/multiaddr/tests/lib.rs
index 1589ec27..55e22db1 100644
--- a/misc/multiaddr/tests/lib.rs
+++ b/misc/multiaddr/tests/lib.rs
@@ -140,7 +140,7 @@ fn ma_valid(source: &str, target: &str, protocols: Vec<Protocol<'_>>) {
 }
 
 fn multihash(s: &str) -> Multihash {
-    Multihash::from_bytes(bs58::decode(s).into_vec().unwrap()).unwrap()
+    Multihash::from_bytes(&bs58::decode(s).into_vec().unwrap()).unwrap()
 }
 
 #[test]
diff --git a/muxers/mplex/CHANGELOG.md b/muxers/mplex/CHANGELOG.md
index 2277ae99..bd0a51fe 100644
--- a/muxers/mplex/CHANGELOG.md
+++ b/muxers/mplex/CHANGELOG.md
@@ -1,4 +1,6 @@
-# 0.24.1 [unreleased]
+# 0.25.0 [unreleased]
+
+- Update `libp2p-core`.
 
 - Change the default `split_send_size` from 1KiB to 8KiB.
   [PR 1834](https://github.com/libp2p/rust-libp2p/pull/1834).
diff --git a/muxers/mplex/Cargo.toml b/muxers/mplex/Cargo.toml
index e6efc46a..40b3d2ae 100644
--- a/muxers/mplex/Cargo.toml
+++ b/muxers/mplex/Cargo.toml
@@ -2,7 +2,7 @@
 name = "libp2p-mplex"
 edition = "2018"
 description = "Mplex multiplexing protocol for libp2p"
-version = "0.24.0"
+version = "0.25.0"
 authors = ["Parity Technologies <admin@parity.io>"]
 license = "MIT"
 repository = "https://github.com/libp2p/rust-libp2p"
@@ -13,7 +13,7 @@ categories = ["network-programming", "asynchronous"]
 bytes = "0.5"
 futures = "0.3.1"
 futures_codec = "0.4.1"
-libp2p-core = { version = "0.24.0", path = "../../core" }
+libp2p-core = { version = "0.25.0", path = "../../core" }
 log = "0.4"
 nohash-hasher = "0.2"
 parking_lot = "0.11"
diff --git a/muxers/yamux/CHANGELOG.md b/muxers/yamux/CHANGELOG.md
index 819b6782..4ced0719 100644
--- a/muxers/yamux/CHANGELOG.md
+++ b/muxers/yamux/CHANGELOG.md
@@ -1,3 +1,7 @@
+# 0.28.0 [unreleased]
+
+- Update `libp2p-core`.
+
 # 0.27.0 [2020-11-09]
 
 - Tweak the naming in the `MplexConfig` API for better
diff --git a/muxers/yamux/Cargo.toml b/muxers/yamux/Cargo.toml
index eac6214e..7376495a 100644
--- a/muxers/yamux/Cargo.toml
+++ b/muxers/yamux/Cargo.toml
@@ -2,7 +2,7 @@
 name = "libp2p-yamux"
 edition = "2018"
 description = "Yamux multiplexing protocol for libp2p"
-version = "0.27.0"
+version = "0.28.0"
 authors = ["Parity Technologies <admin@parity.io>"]
 license = "MIT"
 repository = "https://github.com/libp2p/rust-libp2p"
@@ -11,7 +11,7 @@ categories = ["network-programming", "asynchronous"]
 
 [dependencies]
 futures = "0.3.1"
-libp2p-core = { version = "0.24.0", path = "../../core" }
+libp2p-core = { version = "0.25.0", path = "../../core" }
 parking_lot = "0.11"
 thiserror = "1.0"
 yamux = "0.8.0"
diff --git a/protocols/deflate/CHANGELOG.md b/protocols/deflate/CHANGELOG.md
index 1741e693..34d0b196 100644
--- a/protocols/deflate/CHANGELOG.md
+++ b/protocols/deflate/CHANGELOG.md
@@ -1,3 +1,7 @@
+# 0.25.0 [unreleased]
+
+- Update `libp2p-core`.
+
 # 0.24.0 [2020-11-09]
 
 - Update dependencies.
diff --git a/protocols/deflate/Cargo.toml b/protocols/deflate/Cargo.toml
index de1d0760..b960433c 100644
--- a/protocols/deflate/Cargo.toml
+++ b/protocols/deflate/Cargo.toml
@@ -2,7 +2,7 @@
 name = "libp2p-deflate"
 edition = "2018"
 description = "Deflate encryption protocol for libp2p"
-version = "0.24.0"
+version = "0.25.0"
 authors = ["Parity Technologies <admin@parity.io>"]
 license = "MIT"
 repository = "https://github.com/libp2p/rust-libp2p"
@@ -11,7 +11,7 @@ categories = ["network-programming", "asynchronous"]
 
 [dependencies]
 futures = "0.3.1"
-libp2p-core = { version = "0.24.0", path = "../../core" }
+libp2p-core = { version = "0.25.0", path = "../../core" }
 flate2 = "1.0"
 
 [dev-dependencies]
diff --git a/protocols/floodsub/CHANGELOG.md b/protocols/floodsub/CHANGELOG.md
index 3995f183..696e02cd 100644
--- a/protocols/floodsub/CHANGELOG.md
+++ b/protocols/floodsub/CHANGELOG.md
@@ -1,3 +1,7 @@
+# 0.25.0 [unreleased]
+
+- Update `libp2p-swarm` and `libp2p-core`.
+
 # 0.24.0 [2020-11-09]
 
 - Update dependencies.
diff --git a/protocols/floodsub/Cargo.toml b/protocols/floodsub/Cargo.toml
index 0ca72bc1..3b87710e 100644
--- a/protocols/floodsub/Cargo.toml
+++ b/protocols/floodsub/Cargo.toml
@@ -2,7 +2,7 @@
 name = "libp2p-floodsub"
 edition = "2018"
 description = "Floodsub protocol for libp2p"
-version = "0.24.0"
+version = "0.25.0"
 authors = ["Parity Technologies <admin@parity.io>"]
 license = "MIT"
 repository = "https://github.com/libp2p/rust-libp2p"
@@ -13,8 +13,8 @@ categories = ["network-programming", "asynchronous"]
 cuckoofilter = "0.5.0"
 fnv = "1.0"
 futures = "0.3.1"
-libp2p-core = { version = "0.24.0", path = "../../core" }
-libp2p-swarm = { version = "0.24.0", path = "../../swarm" }
+libp2p-core = { version = "0.25.0", path = "../../core" }
+libp2p-swarm = { version = "0.25.0", path = "../../swarm" }
 log = "0.4"
 prost = "0.6.1"
 rand = "0.7"
diff --git a/protocols/gossipsub/CHANGELOG.md b/protocols/gossipsub/CHANGELOG.md
index 880b743e..7efabaa8 100644
--- a/protocols/gossipsub/CHANGELOG.md
+++ b/protocols/gossipsub/CHANGELOG.md
@@ -1,3 +1,7 @@
+# 0.25.0 [unreleased]
+
+- Update `libp2p-swarm` and `libp2p-core`.
+
 # 0.24.0 [2020-11-09]
 
 - Update dependencies.
diff --git a/protocols/gossipsub/Cargo.toml b/protocols/gossipsub/Cargo.toml
index d70fe724..6f4c25b4 100644
--- a/protocols/gossipsub/Cargo.toml
+++ b/protocols/gossipsub/Cargo.toml
@@ -2,7 +2,7 @@
 name = "libp2p-gossipsub"
 edition = "2018"
 description = "Gossipsub protocol for libp2p"
-version = "0.24.0"
+version = "0.25.0"
 authors = ["Age Manning <Age@AgeManning.com>"]
 license = "MIT"
 repository = "https://github.com/libp2p/rust-libp2p"
@@ -10,8 +10,8 @@ keywords = ["peer-to-peer", "libp2p", "networking"]
 categories = ["network-programming", "asynchronous"]
 
 [dependencies]
-libp2p-swarm = { version = "0.24.0", path = "../../swarm" }
-libp2p-core = { version = "0.24.0", path = "../../core" }
+libp2p-swarm = { version = "0.25.0", path = "../../swarm" }
+libp2p-core = { version = "0.25.0", path = "../../core" }
 bytes = "0.5.4"
 byteorder = "1.3.2"
 fnv = "1.0.6"
diff --git a/protocols/identify/CHANGELOG.md b/protocols/identify/CHANGELOG.md
index 0ae41665..03761672 100644
--- a/protocols/identify/CHANGELOG.md
+++ b/protocols/identify/CHANGELOG.md
@@ -1,3 +1,7 @@
+# 0.25.0 [unreleased]
+
+- Update `libp2p-swarm` and `libp2p-core`.
+
 # 0.24.0 [2020-11-09]
 
 - Update dependencies.
diff --git a/protocols/identify/Cargo.toml b/protocols/identify/Cargo.toml
index d3125fe6..3606a3cb 100644
--- a/protocols/identify/Cargo.toml
+++ b/protocols/identify/Cargo.toml
@@ -2,7 +2,7 @@
 name = "libp2p-identify"
 edition = "2018"
 description = "Nodes identifcation protocol for libp2p"
-version = "0.24.0"
+version = "0.25.0"
 authors = ["Parity Technologies <admin@parity.io>"]
 license = "MIT"
 repository = "https://github.com/libp2p/rust-libp2p"
@@ -11,8 +11,8 @@ categories = ["network-programming", "asynchronous"]
 
 [dependencies]
 futures = "0.3.1"
-libp2p-core = { version = "0.24.0", path = "../../core" }
-libp2p-swarm = { version = "0.24.0", path = "../../swarm" }
+libp2p-core = { version = "0.25.0", path = "../../core" }
+libp2p-swarm = { version = "0.25.0", path = "../../swarm" }
 log = "0.4.1"
 prost = "0.6.1"
 smallvec = "1.0"
diff --git a/protocols/kad/CHANGELOG.md b/protocols/kad/CHANGELOG.md
index 030d6f27..2d075e5e 100644
--- a/protocols/kad/CHANGELOG.md
+++ b/protocols/kad/CHANGELOG.md
@@ -1,3 +1,7 @@
+# 0.26.0 [unreleased]
+
+- Update `libp2p-core` and `libp2p-swarm`.
+
 # 0.25.0 [2020-11-09]
 
 - Upon newly established connections, delay routing table
diff --git a/protocols/kad/Cargo.toml b/protocols/kad/Cargo.toml
index 68b4e9ad..2c23310e 100644
--- a/protocols/kad/Cargo.toml
+++ b/protocols/kad/Cargo.toml
@@ -2,7 +2,7 @@
 name = "libp2p-kad"
 edition = "2018"
 description = "Kademlia protocol for libp2p"
-version = "0.25.0"
+version = "0.26.0"
 authors = ["Parity Technologies <admin@parity.io>"]
 license = "MIT"
 repository = "https://github.com/libp2p/rust-libp2p"
@@ -17,9 +17,8 @@ fnv = "1.0"
 futures_codec = "0.4"
 futures = "0.3.1"
 log = "0.4"
-libp2p-core = { version = "0.24.0", path = "../../core" }
-libp2p-swarm = { version = "0.24.0", path = "../../swarm" }
-multihash = "0.11.3"
+libp2p-core = { version = "0.25.0", path = "../../core" }
+libp2p-swarm = { version = "0.25.0", path = "../../swarm" }
 prost = "0.6.1"
 rand = "0.7.2"
 sha2 = "0.9.1"
diff --git a/protocols/kad/src/behaviour/test.rs b/protocols/kad/src/behaviour/test.rs
index d26f74a7..71fede97 100644
--- a/protocols/kad/src/behaviour/test.rs
+++ b/protocols/kad/src/behaviour/test.rs
@@ -38,7 +38,8 @@ use libp2p_core::{
     identity,
     transport::MemoryTransport,
     multiaddr::{Protocol, Multiaddr, multiaddr},
-    upgrade
+    upgrade,
+    multihash::{Code, Multihash, MultihashDigest},
 };
 use libp2p_noise as noise;
 use libp2p_swarm::Swarm;
@@ -46,7 +47,6 @@ use libp2p_yamux as yamux;
 use quickcheck::*;
 use rand::{Rng, random, thread_rng, rngs::StdRng, SeedableRng};
 use std::{collections::{HashSet, HashMap}, time::Duration, num::NonZeroUsize, u64};
-use multihash::{wrap, Code, Multihash};
 
 type TestSwarm = Swarm<Kademlia<MemoryStore>>;
 
@@ -129,7 +129,7 @@ fn build_fully_connected_nodes_with_config(total: usize, cfg: KademliaConfig)
 }
 
 fn random_multihash() -> Multihash {
-    wrap(Code::Sha2_256, &thread_rng().gen::<[u8; 32]>())
+    Multihash::wrap(Code::Sha2_256.into(), &thread_rng().gen::<[u8; 32]>()).unwrap()
 }
 
 #[derive(Clone, Debug)]
@@ -934,7 +934,7 @@ fn disjoint_query_does_not_finish_before_all_paths_did() {
     let mut trudy = build_node(); // Trudy the intrudor, an adversary.
     let mut bob = build_node();
 
-    let key = Key::new(&multihash::Sha2_256::digest(&thread_rng().gen::<[u8; 32]>()));
+    let key = Key::from(Code::Sha2_256.digest(&thread_rng().gen::<[u8; 32]>()));
     let record_bob = Record::new(key.clone(), b"bob".to_vec());
     let record_trudy = Record::new(key.clone(), b"trudy".to_vec());
 
diff --git a/protocols/kad/src/kbucket/key.rs b/protocols/kad/src/kbucket/key.rs
index 2ec17a3f..56f4140b 100644
--- a/protocols/kad/src/kbucket/key.rs
+++ b/protocols/kad/src/kbucket/key.rs
@@ -19,8 +19,7 @@
 // DEALINGS IN THE SOFTWARE.
 
 use uint::*;
-use libp2p_core::PeerId;
-use multihash::Multihash;
+use libp2p_core::{PeerId, multihash::Multihash};
 use sha2::{Digest, Sha256};
 use sha2::digest::generic_array::{GenericArray, typenum::U32};
 use std::borrow::Borrow;
@@ -93,9 +92,13 @@ impl<T> Into<KeyBytes> for Key<T> {
 }
 
 impl From<Multihash> for Key<Multihash> {
-    fn from(m: Multihash) -> Self {
-        Key::new(m)
-    }
+   fn from(m: Multihash) -> Self {
+       let bytes = KeyBytes(Sha256::digest(&m.to_bytes()));
+       Key {
+           preimage: m,
+           bytes
+       }
+   }
 }
 
 impl From<PeerId> for Key<PeerId> {
@@ -182,7 +185,7 @@ impl Distance {
 mod tests {
     use super::*;
     use quickcheck::*;
-    use multihash::{wrap, Code};
+    use libp2p_core::multihash::Code;
     use rand::Rng;
 
     impl Arbitrary for Key<PeerId> {
@@ -194,7 +197,7 @@ mod tests {
     impl Arbitrary for Key<Multihash> {
         fn arbitrary<G: Gen>(_: &mut G) -> Key<Multihash> {
             let hash = rand::thread_rng().gen::<[u8; 32]>();
-            Key::from(wrap(Code::Sha2_256, &hash))
+            Key::from(Multihash::wrap(Code::Sha2_256.into(), &hash).unwrap())
         }
     }
 
diff --git a/protocols/kad/src/query/peers/closest.rs b/protocols/kad/src/query/peers/closest.rs
index 6f3c4eea..87490212 100644
--- a/protocols/kad/src/query/peers/closest.rs
+++ b/protocols/kad/src/query/peers/closest.rs
@@ -466,15 +466,14 @@ enum PeerState {
 #[cfg(test)]
 mod tests {
     use super::*;
-    use libp2p_core::PeerId;
+    use libp2p_core::{PeerId, multihash::{Code, Multihash}};
     use quickcheck::*;
-    use multihash::Multihash;
     use rand::{Rng, rngs::StdRng, SeedableRng};
     use std::{iter, time::Duration};
 
     fn random_peers<R: Rng>(n: usize, g: &mut R) -> Vec<PeerId> {
         (0 .. n).map(|_| PeerId::from_multihash(
-            multihash::wrap(multihash::Code::Sha2_256, &g.gen::<[u8; 32]>())
+            Multihash::wrap(Code::Sha2_256.into(), &g.gen::<[u8; 32]>()).unwrap()
         ).unwrap()).collect()
     }
 
diff --git a/protocols/kad/src/query/peers/closest/disjoint.rs b/protocols/kad/src/query/peers/closest/disjoint.rs
index 0bc176a8..70024440 100644
--- a/protocols/kad/src/query/peers/closest/disjoint.rs
+++ b/protocols/kad/src/query/peers/closest/disjoint.rs
@@ -432,6 +432,7 @@ mod tests {
     use super::*;
 
     use crate::K_VALUE;
+    use libp2p_core::multihash::{Code, Multihash};
     use quickcheck::*;
     use rand::{Rng, seq::SliceRandom};
     use std::collections::HashSet;
@@ -526,7 +527,7 @@ mod tests {
 
     fn random_peers<R: Rng>(n: usize, g: &mut R) -> Vec<PeerId> {
         (0 .. n).map(|_| PeerId::from_multihash(
-            multihash::wrap(multihash::Code::Sha2_256, &g.gen::<[u8; 32]>())
+            Multihash::wrap(Code::Sha2_256.into(), &g.gen::<[u8; 32]>()).unwrap()
         ).unwrap()).collect()
     }
 
diff --git a/protocols/kad/src/record.rs b/protocols/kad/src/record.rs
index d00e27d9..a10240e6 100644
--- a/protocols/kad/src/record.rs
+++ b/protocols/kad/src/record.rs
@@ -23,8 +23,7 @@
 pub mod store;
 
 use bytes::Bytes;
-use libp2p_core::{PeerId, Multiaddr};
-use multihash::Multihash;
+use libp2p_core::{PeerId, Multiaddr, multihash::Multihash};
 use std::borrow::Borrow;
 use std::hash::{Hash, Hasher};
 use wasm_timer::Instant;
@@ -65,7 +64,7 @@ impl From<Vec<u8>> for Key {
 
 impl From<Multihash> for Key {
     fn from(m: Multihash) -> Key {
-        Key::from(m.into_bytes())
+        Key::from(m.to_bytes())
     }
 }
 
@@ -147,14 +146,14 @@ impl ProviderRecord {
 mod tests {
     use super::*;
     use quickcheck::*;
-    use multihash::{wrap, Code};
+    use libp2p_core::multihash::Code;
     use rand::Rng;
     use std::time::Duration;
 
     impl Arbitrary for Key {
         fn arbitrary<G: Gen>(_: &mut G) -> Key {
             let hash = rand::thread_rng().gen::<[u8; 32]>();
-            Key::from(wrap(Code::Sha2_256, &hash))
+            Key::from(Multihash::wrap(Code::Sha2_256.into(), &hash).unwrap())
         }
     }
 
diff --git a/protocols/kad/src/record/store/memory.rs b/protocols/kad/src/record/store/memory.rs
index d4fdad79..6f2b95da 100644
--- a/protocols/kad/src/record/store/memory.rs
+++ b/protocols/kad/src/record/store/memory.rs
@@ -215,12 +215,12 @@ impl<'a> RecordStore<'a> for MemoryStore {
 #[cfg(test)]
 mod tests {
     use super::*;
-    use multihash::{wrap, Code};
+    use libp2p_core::multihash::{Code, Multihash};
     use quickcheck::*;
     use rand::Rng;
 
     fn random_multihash() -> Multihash {
-        wrap(Code::Sha2_256, &rand::thread_rng().gen::<[u8; 32]>())
+        Multihash::wrap(Code::Sha2_256.into(), &rand::thread_rng().gen::<[u8; 32]>()).unwrap()
     }
 
     fn distance(r: &ProviderRecord) -> kbucket::Distance {
diff --git a/protocols/mdns/CHANGELOG.md b/protocols/mdns/CHANGELOG.md
index bebc82b6..1d2f6d59 100644
--- a/protocols/mdns/CHANGELOG.md
+++ b/protocols/mdns/CHANGELOG.md
@@ -1,3 +1,7 @@
+# 0.25.0 [unreleased]
+
+- Update `libp2p-swarm` and `libp2p-core`.
+
 # 0.24.0 [2020-11-09]
 
 - Update dependencies.
diff --git a/protocols/mdns/Cargo.toml b/protocols/mdns/Cargo.toml
index f933a228..168a341e 100644
--- a/protocols/mdns/Cargo.toml
+++ b/protocols/mdns/Cargo.toml
@@ -1,7 +1,7 @@
 [package]
 name = "libp2p-mdns"
 edition = "2018"
-version = "0.24.0"
+version = "0.25.0"
 description = "Implementation of the libp2p mDNS discovery method"
 authors = ["Parity Technologies <admin@parity.io>"]
 license = "MIT"
@@ -16,8 +16,8 @@ dns-parser = "0.8"
 either = "1.5.3"
 futures = "0.3.1"
 lazy_static = "1.2"
-libp2p-core = { version = "0.24.0", path = "../../core" }
-libp2p-swarm = { version = "0.24.0", path = "../../swarm" }
+libp2p-core = { version = "0.25.0", path = "../../core" }
+libp2p-swarm = { version = "0.25.0", path = "../../swarm" }
 log = "0.4"
 net2 = "0.2"
 rand = "0.7"
diff --git a/protocols/mdns/src/service.rs b/protocols/mdns/src/service.rs
index 4815a427..0d99c13d 100644
--- a/protocols/mdns/src/service.rs
+++ b/protocols/mdns/src/service.rs
@@ -589,7 +589,7 @@ mod tests {
     macro_rules! testgen {
         ($runtime_name:ident, $service_name:ty, $block_on_fn:tt) => {
     mod $runtime_name {
-        use libp2p_core::{PeerId, multiaddr::multihash};
+        use libp2p_core::{PeerId, multihash::{Code, MultihashDigest}};
         use std::time::Duration;
         use crate::service::MdnsPacket;
 
@@ -683,7 +683,7 @@ mod tests {
         #[test]
         fn discover_long_peer_id() {
             let max_value = String::from_utf8(vec![b'f'; 42]).unwrap();
-            let hash = multihash::Identity::digest(max_value.as_ref());
+            let hash = Code::Identity.digest(max_value.as_ref());
             discover(PeerId::from_multihash(hash).unwrap())
         }
     }
diff --git a/protocols/noise/CHANGELOG.md b/protocols/noise/CHANGELOG.md
index 99818b7b..851a7022 100644
--- a/protocols/noise/CHANGELOG.md
+++ b/protocols/noise/CHANGELOG.md
@@ -1,3 +1,7 @@
+# 0.27.0 [unreleased]
+
+- Update `libp2p-core`.
+
 # 0.26.0 [2020-11-09]
 
 - Update dependencies.
diff --git a/protocols/noise/Cargo.toml b/protocols/noise/Cargo.toml
index 22aae9dc..59b6f9ea 100644
--- a/protocols/noise/Cargo.toml
+++ b/protocols/noise/Cargo.toml
@@ -1,7 +1,7 @@
 [package]
 name = "libp2p-noise"
 description = "Cryptographic handshake protocol using the noise framework."
-version = "0.26.0"
+version = "0.27.0"
 authors = ["Parity Technologies <admin@parity.io>"]
 license = "MIT"
 repository = "https://github.com/libp2p/rust-libp2p"
@@ -12,7 +12,7 @@ bytes = "0.5"
 curve25519-dalek = "3.0.0"
 futures = "0.3.1"
 lazy_static = "1.2"
-libp2p-core = { version = "0.24.0", path = "../../core" }
+libp2p-core = { version = "0.25.0", path = "../../core" }
 log = "0.4"
 prost = "0.6.1"
 rand = "0.7.2"
diff --git a/protocols/ping/CHANGELOG.md b/protocols/ping/CHANGELOG.md
index a393c52e..3f75fb1d 100644
--- a/protocols/ping/CHANGELOG.md
+++ b/protocols/ping/CHANGELOG.md
@@ -1,3 +1,7 @@
+# 0.25.0 [unreleased]
+
+- Update `libp2p-swarm` and `libp2p-core`.
+
 # 0.24.0 [2020-11-09]
 
 - Update dependencies.
diff --git a/protocols/ping/Cargo.toml b/protocols/ping/Cargo.toml
index 682ffe1d..3aa96f74 100644
--- a/protocols/ping/Cargo.toml
+++ b/protocols/ping/Cargo.toml
@@ -2,7 +2,7 @@
 name = "libp2p-ping"
 edition = "2018"
 description = "Ping protocol for libp2p"
-version = "0.24.0"
+version = "0.25.0"
 authors = ["Parity Technologies <admin@parity.io>"]
 license = "MIT"
 repository = "https://github.com/libp2p/rust-libp2p"
@@ -11,8 +11,8 @@ categories = ["network-programming", "asynchronous"]
 
 [dependencies]
 futures = "0.3.1"
-libp2p-core = { version = "0.24.0", path = "../../core" }
-libp2p-swarm = { version = "0.24.0", path = "../../swarm" }
+libp2p-core = { version = "0.25.0", path = "../../core" }
+libp2p-swarm = { version = "0.25.0", path = "../../swarm" }
 log = "0.4.1"
 rand = "0.7.2"
 void = "1.0"
diff --git a/protocols/plaintext/CHANGELOG.md b/protocols/plaintext/CHANGELOG.md
index c6047b7d..c6857f63 100644
--- a/protocols/plaintext/CHANGELOG.md
+++ b/protocols/plaintext/CHANGELOG.md
@@ -1,3 +1,7 @@
+# 0.25.0 [unreleased]
+
+- Update `libp2p-core`.
+
 # 0.24.1 [2020-11-11]
 
 - Ensure that no follow-up protocol data is dropped at the end of the
diff --git a/protocols/plaintext/Cargo.toml b/protocols/plaintext/Cargo.toml
index 54f174fd..017d2611 100644
--- a/protocols/plaintext/Cargo.toml
+++ b/protocols/plaintext/Cargo.toml
@@ -2,7 +2,7 @@
 name = "libp2p-plaintext"
 edition = "2018"
 description = "Plaintext encryption dummy protocol for libp2p"
-version = "0.24.1"
+version = "0.25.0"
 authors = ["Parity Technologies <admin@parity.io>"]
 license = "MIT"
 repository = "https://github.com/libp2p/rust-libp2p"
@@ -13,7 +13,7 @@ categories = ["network-programming", "asynchronous"]
 bytes = "0.5"
 futures = "0.3.1"
 futures_codec = "0.4.0"
-libp2p-core = { version = "0.24.0", path = "../../core" }
+libp2p-core = { version = "0.25.0", path = "../../core" }
 log = "0.4.8"
 prost = "0.6.1"
 unsigned-varint = { version = "0.5.1", features = ["futures-codec"] }
diff --git a/protocols/request-response/CHANGELOG.md b/protocols/request-response/CHANGELOG.md
index 7e70804a..198f1e6b 100644
--- a/protocols/request-response/CHANGELOG.md
+++ b/protocols/request-response/CHANGELOG.md
@@ -1,3 +1,7 @@
+# 0.6.0 [unreleased]
+
+- Update `libp2p-swarm` and `libp2p-core`.
+
 # 0.5.0 [2020-11-09]
 
 - Update dependencies.
diff --git a/protocols/request-response/Cargo.toml b/protocols/request-response/Cargo.toml
index 6e3a6052..89d97a6f 100644
--- a/protocols/request-response/Cargo.toml
+++ b/protocols/request-response/Cargo.toml
@@ -2,7 +2,7 @@
 name = "libp2p-request-response"
 edition = "2018"
 description = "Generic Request/Response Protocols"
-version = "0.5.0"
+version = "0.6.0"
 authors = ["Parity Technologies <admin@parity.io>"]
 license = "MIT"
 repository = "https://github.com/libp2p/rust-libp2p"
@@ -13,8 +13,8 @@ categories = ["network-programming", "asynchronous"]
 async-trait = "0.1"
 bytes = "0.5.6"
 futures = "0.3.1"
-libp2p-core = { version = "0.24.0", path = "../../core" }
-libp2p-swarm = { version = "0.24.0", path = "../../swarm" }
+libp2p-core = { version = "0.25.0", path = "../../core" }
+libp2p-swarm = { version = "0.25.0", path = "../../swarm" }
 log = "0.4.11"
 lru = "0.6"
 minicbor = { version = "0.7", features = ["std", "derive"] }
diff --git a/protocols/secio/CHANGELOG.md b/protocols/secio/CHANGELOG.md
index 9abfe808..6147c159 100644
--- a/protocols/secio/CHANGELOG.md
+++ b/protocols/secio/CHANGELOG.md
@@ -1,3 +1,7 @@
+# 0.25.0 [unreleased]
+
+- Update `libp2p-core`.
+
 # 0.24.0 [2020-11-09]
 
 - Update dependencies.
diff --git a/protocols/secio/Cargo.toml b/protocols/secio/Cargo.toml
index 88c817ae..fef7ae16 100644
--- a/protocols/secio/Cargo.toml
+++ b/protocols/secio/Cargo.toml
@@ -2,7 +2,7 @@
 name = "libp2p-secio"
 edition = "2018"
 description = "Secio encryption protocol for libp2p"
-version = "0.24.0"
+version = "0.25.0"
 authors = ["Parity Technologies <admin@parity.io>"]
 license = "MIT"
 repository = "https://github.com/libp2p/rust-libp2p"
@@ -19,7 +19,7 @@ ctr = "0.3"
 futures = "0.3.1"
 hmac = "0.9.0"
 lazy_static = "1.2.0"
-libp2p-core = { version = "0.24.0", path = "../../core" }
+libp2p-core = { version = "0.25.0", path = "../../core" }
 log = "0.4.6"
 prost = "0.6.1"
 pin-project = "1.0.0"
diff --git a/src/lib.rs b/src/lib.rs
index df1b0ebd..8481a322 100644
--- a/src/lib.rs
+++ b/src/lib.rs
@@ -162,7 +162,7 @@ pub use futures;
 #[doc(inline)]
 pub use multiaddr;
 #[doc(inline)]
-pub use multihash;
+pub use libp2p_core::multihash;
 
 #[doc(inline)]
 pub use libp2p_core as core;
diff --git a/swarm/CHANGELOG.md b/swarm/CHANGELOG.md
index cf727919..2c2b0d35 100644
--- a/swarm/CHANGELOG.md
+++ b/swarm/CHANGELOG.md
@@ -1,3 +1,7 @@
+# 0.25.0 [unreleased]
+
+- Update `libp2p-core`.
+
 # 0.24.0 [2020-11-09]
 
 - Update dependencies.
diff --git a/swarm/Cargo.toml b/swarm/Cargo.toml
index 3da31da1..ca527aab 100644
--- a/swarm/Cargo.toml
+++ b/swarm/Cargo.toml
@@ -2,7 +2,7 @@
 name = "libp2p-swarm"
 edition = "2018"
 description = "The libp2p swarm"
-version = "0.24.0"
+version = "0.25.0"
 authors = ["Parity Technologies <admin@parity.io>"]
 license = "MIT"
 repository = "https://github.com/libp2p/rust-libp2p"
@@ -12,7 +12,7 @@ categories = ["network-programming", "asynchronous"]
 [dependencies]
 either = "1.6.0"
 futures = "0.3.1"
-libp2p-core = { version = "0.24.0", path = "../core" }
+libp2p-core = { version = "0.25.0", path = "../core" }
 log = "0.4"
 rand = "0.7"
 smallvec = "1.0"
diff --git a/transports/dns/CHANGELOG.md b/transports/dns/CHANGELOG.md
index f0a9481e..5a324eea 100644
--- a/transports/dns/CHANGELOG.md
+++ b/transports/dns/CHANGELOG.md
@@ -1,3 +1,7 @@
+# 0.25.0 [unreleased]
+
+- Update `libp2p-core`.
+
 # 0.24.0 [2020-11-09]
 
 - Update dependencies.
diff --git a/transports/dns/Cargo.toml b/transports/dns/Cargo.toml
index bb8f8b50..405edfe2 100644
--- a/transports/dns/Cargo.toml
+++ b/transports/dns/Cargo.toml
@@ -2,7 +2,7 @@
 name = "libp2p-dns"
 edition = "2018"
 description = "DNS transport implementation for libp2p"
-version = "0.24.0"
+version = "0.25.0"
 authors = ["Parity Technologies <admin@parity.io>"]
 license = "MIT"
 repository = "https://github.com/libp2p/rust-libp2p"
@@ -10,6 +10,6 @@ keywords = ["peer-to-peer", "libp2p", "networking"]
 categories = ["network-programming", "asynchronous"]
 
 [dependencies]
-libp2p-core = { version = "0.24.0", path = "../../core" }
+libp2p-core = { version = "0.25.0", path = "../../core" }
 log = "0.4.1"
 futures = "0.3.1"
diff --git a/transports/tcp/CHANGELOG.md b/transports/tcp/CHANGELOG.md
index 8f7e865f..4df28deb 100644
--- a/transports/tcp/CHANGELOG.md
+++ b/transports/tcp/CHANGELOG.md
@@ -1,3 +1,7 @@
+# 0.25.0 [unreleased]
+
+- Update `libp2p-core`.
+
 # 0.24.0 [2020-11-09]
 
 - Update dependencies.
diff --git a/transports/tcp/Cargo.toml b/transports/tcp/Cargo.toml
index 7ea23a53..d21f3ac7 100644
--- a/transports/tcp/Cargo.toml
+++ b/transports/tcp/Cargo.toml
@@ -2,7 +2,7 @@
 name = "libp2p-tcp"
 edition = "2018"
 description = "TCP/IP transport protocol for libp2p"
-version = "0.24.0"
+version = "0.25.0"
 authors = ["Parity Technologies <admin@parity.io>"]
 license = "MIT"
 repository = "https://github.com/libp2p/rust-libp2p"
@@ -15,7 +15,7 @@ futures = "0.3.1"
 futures-timer = "3.0"
 if-addrs = "0.6.4"
 ipnet = "2.0.0"
-libp2p-core = { version = "0.24.0", path = "../../core" }
+libp2p-core = { version = "0.25.0", path = "../../core" }
 log = "0.4.1"
 socket2 = { version = "0.3.12" }
 tokio = { version = "0.3", default-features = false, features = ["net"], optional = true }
diff --git a/transports/uds/CHANGELOG.md b/transports/uds/CHANGELOG.md
index 893614cc..3efa3d1c 100644
--- a/transports/uds/CHANGELOG.md
+++ b/transports/uds/CHANGELOG.md
@@ -1,3 +1,7 @@
+# 0.25.0 [unreleased]
+
+- Update `libp2p-core`.
+
 # 0.24.0 [2020-11-09]
 
 - Update dependencies.
diff --git a/transports/uds/Cargo.toml b/transports/uds/Cargo.toml
index 0df652ce..825ecafc 100644
--- a/transports/uds/Cargo.toml
+++ b/transports/uds/Cargo.toml
@@ -2,7 +2,7 @@
 name = "libp2p-uds"
 edition = "2018"
 description = "Unix domain sockets transport for libp2p"
-version = "0.24.0"
+version = "0.25.0"
 authors = ["Parity Technologies <admin@parity.io>"]
 license = "MIT"
 repository = "https://github.com/libp2p/rust-libp2p"
@@ -11,7 +11,7 @@ categories = ["network-programming", "asynchronous"]
 
 [target.'cfg(all(unix, not(target_os = "emscripten")))'.dependencies]
 async-std = { version = "1.6.2", optional = true }
-libp2p-core = { version = "0.24.0", path = "../../core" }
+libp2p-core = { version = "0.25.0", path = "../../core" }
 log = "0.4.1"
 futures = "0.3.1"
 tokio = { version = "0.3", default-features = false, features = ["net"], optional = true }
diff --git a/transports/wasm-ext/CHANGELOG.md b/transports/wasm-ext/CHANGELOG.md
index dfdafbb6..54c4ef13 100644
--- a/transports/wasm-ext/CHANGELOG.md
+++ b/transports/wasm-ext/CHANGELOG.md
@@ -1,3 +1,7 @@
+# 0.25.0 [unreleased]
+
+- Update `libp2p-core`.
+
 # 0.24.0 [2020-11-09]
 
 - Fix the WebSocket implementation parsing `x-parity-ws` multiaddresses as `x-parity-wss`.
diff --git a/transports/wasm-ext/Cargo.toml b/transports/wasm-ext/Cargo.toml
index ca47b8dc..c21d15a6 100644
--- a/transports/wasm-ext/Cargo.toml
+++ b/transports/wasm-ext/Cargo.toml
@@ -1,6 +1,6 @@
 [package]
 name = "libp2p-wasm-ext"
-version = "0.24.0"
+version = "0.25.0"
 authors = ["Pierre Krieger <pierre.krieger1708@gmail.com>"]
 edition = "2018"
 description = "Allows passing in an external transport in a WASM environment"
@@ -12,7 +12,7 @@ categories = ["network-programming", "asynchronous"]
 [dependencies]
 futures = "0.3.1"
 js-sys = "0.3.19"
-libp2p-core = { version = "0.24.0", path = "../../core" }
+libp2p-core = { version = "0.25.0", path = "../../core" }
 parity-send-wrapper = "0.1.0"
 wasm-bindgen = "0.2.42"
 wasm-bindgen-futures = "0.4.4"
diff --git a/transports/websocket/CHANGELOG.md b/transports/websocket/CHANGELOG.md
index 650039dc..245a98ad 100644
--- a/transports/websocket/CHANGELOG.md
+++ b/transports/websocket/CHANGELOG.md
@@ -1,3 +1,7 @@
+# 0.26.0 [unreleased]
+
+- Update `libp2p-core`.
+
 # 0.25.0 [2020-11-09]
 
 - Update dependencies.
diff --git a/transports/websocket/Cargo.toml b/transports/websocket/Cargo.toml
index d5e9c843..1390af06 100644
--- a/transports/websocket/Cargo.toml
+++ b/transports/websocket/Cargo.toml
@@ -2,7 +2,7 @@
 name = "libp2p-websocket"
 edition = "2018"
 description = "WebSocket transport for libp2p"
-version = "0.25.0"
+version = "0.26.0"
 authors = ["Parity Technologies <admin@parity.io>"]
 license = "MIT"
 repository = "https://github.com/libp2p/rust-libp2p"
@@ -13,7 +13,7 @@ categories = ["network-programming", "asynchronous"]
 async-tls = "0.10.0"
 either = "1.5.3"
 futures = "0.3.1"
-libp2p-core = { version = "0.24.0", path = "../../core" }
+libp2p-core = { version = "0.25.0", path = "../../core" }
 log = "0.4.8"
 quicksink = "0.1"
 rustls = "0.18.0"