diff --git a/misc/multiaddr/Cargo.toml b/misc/multiaddr/Cargo.toml
index b3f769b5..9ad1484b 100644
--- a/misc/multiaddr/Cargo.toml
+++ b/misc/multiaddr/Cargo.toml
@@ -12,6 +12,7 @@ version = "0.2.0"
 arrayref = "0.3"
 bs58 = "0.2.0"
 byteorder = "1.3.1"
+bytes = "0.4.12"
 data-encoding = "2.1"
 multihash = { package = "parity-multihash", version = "0.1.0", path = "../multihash" }
 serde = "1.0.70"
diff --git a/misc/multiaddr/src/lib.rs b/misc/multiaddr/src/lib.rs
index f180de01..7eac66e1 100644
--- a/misc/multiaddr/src/lib.rs
+++ b/misc/multiaddr/src/lib.rs
@@ -8,6 +8,7 @@ pub use multihash;
 mod protocol;
 mod errors;
 
+use bytes::Bytes;
 use serde::{
     Deserialize,
     Deserializer,
@@ -17,7 +18,6 @@ use serde::{
 };
 use std::{
     fmt,
-    io,
     iter::FromIterator,
     net::{SocketAddr, SocketAddrV4, SocketAddrV6, IpAddr, Ipv4Addr, Ipv6Addr},
     result::Result as StdResult,
@@ -28,7 +28,7 @@ pub use self::protocol::Protocol;
 
 /// Representation of a Multiaddr.
 #[derive(PartialEq, Eq, Clone, Hash)]
-pub struct Multiaddr { bytes: Vec<u8> }
+pub struct Multiaddr { bytes: Bytes }
 
 impl Serialize for Multiaddr {
     fn serialize<S>(&self, serializer: S) -> StdResult<S::Ok, S::Error>
@@ -63,7 +63,7 @@ impl<'de> Deserialize<'de> for Multiaddr {
                     let s = String::from_utf8(buf).map_err(DeserializerError::custom)?;
                     s.parse().map_err(DeserializerError::custom)
                 } else {
-                    Multiaddr::from_bytes(buf).map_err(DeserializerError::custom)
+                    Multiaddr::try_from_vec(buf).map_err(DeserializerError::custom)
                 }
             }
             fn visit_str<E: de::Error>(self, v: &str) -> StdResult<Self::Value, E> {
@@ -82,7 +82,7 @@ impl<'de> Deserialize<'de> for Multiaddr {
                 self.visit_byte_buf(v.into())
             }
             fn visit_byte_buf<E: de::Error>(self, v: Vec<u8>) -> StdResult<Self::Value, E> {
-                Multiaddr::from_bytes(v).map_err(DeserializerError::custom)
+                Multiaddr::try_from_vec(v).map_err(DeserializerError::custom)
             }
         }
 
@@ -123,32 +123,41 @@ impl fmt::Display for Multiaddr {
 }
 
 impl Multiaddr {
-    /// Create a new, empty multiaddress.
-    pub fn empty() -> Multiaddr {
-        Multiaddr { bytes: Vec::new() }
+    #[deprecated(since = "0.2.1", note = "Use `Multiaddr::to_vec` instead.")]
+    pub fn into_bytes(self) -> Vec<u8> {
+        self.to_vec()
     }
 
-    /// Returns the raw bytes representation of the multiaddr.
-    #[inline]
-    pub fn into_bytes(self) -> Vec<u8> {
-        self.bytes
+    #[deprecated(since = "0.2.1", note = "Use `Multiaddr::to_vec` instead.")]
+    pub fn to_bytes(&self) -> Vec<u8> {
+        self.to_vec()
+    }
+
+    #[deprecated(since = "0.2.1", note = "Use `Multiaddr::try_from_vec` instead.")]
+    pub fn from_bytes(bytes: Vec<u8>) -> Result<Multiaddr> {
+        Self::try_from_vec(bytes)
+    }
+
+    /// Create a new, empty multiaddress.
+    pub fn empty() -> Multiaddr {
+        Multiaddr { bytes: Bytes::new() }
     }
 
     /// Return a copy to disallow changing the bytes directly
-    pub fn to_bytes(&self) -> Vec<u8> {
-        self.bytes.clone()
+    pub fn to_vec(&self) -> Vec<u8> {
+        Vec::from(&self.bytes[..])
     }
 
     /// Produces a `Multiaddr` from its bytes representation.
-    pub fn from_bytes(bytes: Vec<u8>) -> Result<Multiaddr> {
-        {
-            let mut ptr = &bytes[..];
-            while !ptr.is_empty() {
-                let (_, new_ptr) = Protocol::from_bytes(ptr)?;
-                ptr = new_ptr;
-            }
+    pub fn try_from_vec(v: Vec<u8>) -> Result<Multiaddr> {
+        // Check if the argument is a valid `Multiaddr`
+        // by reading its protocols.
+        let mut ptr = &v[..];
+        while !ptr.is_empty() {
+            let (_, new_ptr) = Protocol::from_bytes(ptr)?;
+            ptr = new_ptr;
         }
-        Ok(Multiaddr { bytes })
+        Ok(Multiaddr { bytes: v.into() })
     }
 
     /// Extracts a slice containing the entire underlying vector.
@@ -171,7 +180,7 @@ impl Multiaddr {
     pub fn encapsulate<T: ToMultiaddr>(&self, input: T) -> Result<Multiaddr> {
         let new = input.to_multiaddr()?;
         let mut bytes = self.bytes.clone();
-        bytes.extend(new.to_bytes());
+        bytes.extend_from_slice(&new.bytes);
         Ok(Multiaddr { bytes })
     }
 
@@ -187,12 +196,10 @@ impl Multiaddr {
     /// assert_eq!(address, "/ip4/127.0.0.1/tcp/10000".parse().unwrap());
     /// ```
     ///
-    #[inline]
     pub fn append(&mut self, p: Protocol<'_>) {
-        let n = self.bytes.len();
-        let mut w = io::Cursor::new(&mut self.bytes);
-        w.set_position(n as u64);
-        p.write_bytes(&mut w).expect("writing to a Vec never fails")
+        let mut w = Vec::new();
+        p.write_bytes(&mut w).expect("writing to a Vec never fails");
+        self.bytes.extend_from_slice(&w);
     }
 
     /// Remove the outermost address.
@@ -223,7 +230,7 @@ impl Multiaddr {
     /// ```
     ///
     pub fn decapsulate<T: ToMultiaddr>(&self, input: T) -> Result<Multiaddr> {
-        let input = input.to_multiaddr()?.to_bytes();
+        let input = input.to_multiaddr()?.to_vec();
 
         let bytes_len = self.bytes.len();
         let input_length = input.len();
@@ -246,7 +253,7 @@ impl Multiaddr {
         }
 
         if !matches {
-            return Ok(Multiaddr { bytes: self.bytes.clone() });
+            return Ok(self.clone())
         }
 
         let mut bytes = self.bytes.clone();
@@ -297,7 +304,7 @@ impl<'a> From<Protocol<'a>> for Multiaddr {
     fn from(p: Protocol<'a>) -> Multiaddr {
         let mut w = Vec::new();
         p.write_bytes(&mut w).expect("writing to a Vec never fails");
-        Multiaddr { bytes: w }
+        Multiaddr { bytes: w.into() }
     }
 }
 
@@ -320,7 +327,7 @@ impl<'a> FromIterator<Protocol<'a>> for Multiaddr {
         for cmp in iter {
             cmp.write_bytes(&mut writer).expect("writing to a Vec never fails");
         }
-        Multiaddr { bytes: writer }
+        Multiaddr { bytes: writer.into() }
     }
 }
 
@@ -342,7 +349,7 @@ impl FromStr for Multiaddr {
             p.write_bytes(&mut writer).expect("writing to a Vec never fails");
         }
 
-        Ok(Multiaddr { bytes: writer })
+        Ok(Multiaddr { bytes: writer.into() })
     }
 }
 
diff --git a/misc/multiaddr/tests/lib.rs b/misc/multiaddr/tests/lib.rs
index d42c8521..fdd35693 100644
--- a/misc/multiaddr/tests/lib.rs
+++ b/misc/multiaddr/tests/lib.rs
@@ -16,8 +16,8 @@ use std::{
 #[test]
 fn to_from_bytes_identity() {
     fn prop(a: Ma) -> bool {
-        let b = a.0.to_bytes();
-        Some(a) == Multiaddr::from_bytes(b).ok().map(Ma)
+        let b = a.0.to_vec();
+        Some(a) == Multiaddr::try_from_vec(b).ok().map(Ma)
     }
     QuickCheck::new().quickcheck(prop as fn(Ma) -> bool)
 }
@@ -102,10 +102,10 @@ impl Arbitrary for SubString {
 
 fn ma_valid(source: &str, target: &str, protocols: Vec<Protocol<'_>>) {
     let parsed = source.parse::<Multiaddr>().unwrap();
-    assert_eq!(HEXUPPER.encode(&parsed.to_bytes()[..]), target);
+    assert_eq!(HEXUPPER.encode(&parsed.to_vec()[..]), target);
     assert_eq!(parsed.iter().collect::<Vec<_>>(), protocols);
     assert_eq!(source.parse::<Multiaddr>().unwrap().to_string(), source);
-    assert_eq!(Multiaddr::from_bytes(HEXUPPER.decode(target.as_bytes()).unwrap()).unwrap(), parsed);
+    assert_eq!(Multiaddr::try_from_vec(HEXUPPER.decode(target.as_bytes()).unwrap()).unwrap(), parsed);
 }
 
 fn multihash(s: &str) -> Multihash {
@@ -252,7 +252,7 @@ fn to_multiaddr() {
 #[test]
 fn from_bytes_fail() {
     let bytes = vec![1, 2, 3, 4];
-    assert!(Multiaddr::from_bytes(bytes).is_err());
+    assert!(Multiaddr::try_from_vec(bytes).is_err());
 }
 
 
diff --git a/protocols/identify/src/protocol.rs b/protocols/identify/src/protocol.rs
index 27f84c4b..411fe30c 100644
--- a/protocols/identify/src/protocol.rs
+++ b/protocols/identify/src/protocol.rs
@@ -64,7 +64,7 @@ impl<T> IdentifySender<T> where T: AsyncWrite {
 
         let listen_addrs = info.listen_addrs
             .into_iter()
-            .map(|addr| addr.into_bytes())
+            .map(|addr| addr.to_vec())
             .collect();
 
         let pubkey_bytes = info.public_key.into_protobuf_encoding();
@@ -74,7 +74,7 @@ impl<T> IdentifySender<T> where T: AsyncWrite {
         message.set_protocolVersion(info.protocol_version);
         message.set_publicKey(pubkey_bytes);
         message.set_listenAddrs(listen_addrs);
-        message.set_observedAddr(observed_addr.to_bytes());
+        message.set_observedAddr(observed_addr.to_vec());
         message.set_protocols(RepeatedField::from_vec(info.protocols));
 
         let bytes = message
@@ -234,7 +234,7 @@ fn parse_proto_msg(msg: BytesMut) -> Result<(IdentifyInfo, Multiaddr), IoError>
             // Turn a `Vec<u8>` into a `Multiaddr`. If something bad happens, turn it into
             // an `IoError`.
             fn bytes_to_multiaddr(bytes: Vec<u8>) -> Result<Multiaddr, IoError> {
-                Multiaddr::from_bytes(bytes)
+                Multiaddr::try_from_vec(bytes)
                     .map_err(|err| IoError::new(IoErrorKind::InvalidData, err))
             }
 
diff --git a/protocols/kad/src/protocol.rs b/protocols/kad/src/protocol.rs
index 5efc0fcb..eff8a664 100644
--- a/protocols/kad/src/protocol.rs
+++ b/protocols/kad/src/protocol.rs
@@ -103,7 +103,7 @@ impl KadPeer {
 
         let mut addrs = Vec::with_capacity(peer.get_addrs().len());
         for addr in peer.take_addrs().into_iter() {
-            let as_ma = Multiaddr::from_bytes(addr)
+            let as_ma = Multiaddr::try_from_vec(addr)
                 .map_err(|err| IoError::new(IoErrorKind::InvalidData, err))?;
             addrs.push(as_ma);
         }
@@ -124,7 +124,7 @@ impl Into<protobuf_structs::dht::Message_Peer> for KadPeer {
         let mut out = protobuf_structs::dht::Message_Peer::new();
         out.set_id(self.node_id.into_bytes());
         for addr in self.multiaddrs {
-            out.mut_addrs().push(addr.into_bytes());
+            out.mut_addrs().push(addr.to_vec());
         }
         out.set_connection(self.connection_ty.into());
         out
diff --git a/protocols/observed/src/lib.rs b/protocols/observed/src/lib.rs
index 227e958e..c312fbb2 100644
--- a/protocols/observed/src/lib.rs
+++ b/protocols/observed/src/lib.rs
@@ -75,7 +75,7 @@ where
             .map_err(|(e, _): (io::Error, FramedRead<Negotiated<C>, UviBytes>)| e)
             .and_then(move |(bytes, _)| {
                 if let Some(b) = bytes {
-                    let ma = Multiaddr::from_bytes(b.to_vec())
+                    let ma = Multiaddr::try_from_vec(b.to_vec())
                         .map_err(|e| io::Error::new(io::ErrorKind::InvalidData, e))?;
                     Ok(ma)
                 } else {
@@ -94,7 +94,7 @@ pub struct Sender<C> {
 impl<C: AsyncWrite> Sender<C> {
     /// Send address `a` to remote as the observed address.
     pub fn send_address(self, a: Multiaddr) -> impl Future<Item=(), Error=io::Error> {
-        self.io.send(Bytes::from(a.into_bytes())).map(|_io| ())
+        self.io.send(Bytes::from(a.to_vec())).map(|_io| ())
     }
 }