diff --git a/circular-buffer/Cargo.toml b/circular-buffer/Cargo.toml
index d0b977c4..2f95cf7e 100644
--- a/circular-buffer/Cargo.toml
+++ b/circular-buffer/Cargo.toml
@@ -4,4 +4,4 @@ version = "0.1.0"
 authors = ["Parity Technologies <admin@parity.io>"]
 
 [dependencies]
-smallvec = "0.5.0"
\ No newline at end of file
+smallvec = { git = "https://github.com/Vurich/rust-smallvec.git", branch = "array-zero" }
\ No newline at end of file
diff --git a/circular-buffer/src/lib.rs b/circular-buffer/src/lib.rs
index fe171460..c74505ee 100644
--- a/circular-buffer/src/lib.rs
+++ b/circular-buffer/src/lib.rs
@@ -32,7 +32,7 @@ extern crate smallvec;
 use std::ops::Drop;
 use std::mem::ManuallyDrop;
 
-use smallvec::Array;
+pub use smallvec::Array;
 
 use owned_slice::OwnedSlice;
 
@@ -248,12 +248,59 @@ impl<B: Array> CircularBuffer<B> {
     /// assert_eq!(buffer.len(), 0);
     /// ```
     pub fn pop_slice_leaky(&mut self) -> Option<&mut [B::Item]> {
+        let len = self.len;
+        self.pop_first_n_leaky(len)
+    }
+
+    /// Pop a slice containing up to `n` contiguous elements. Since this buffer is circular it will
+    /// take a maximum of two calls to this function to drain the buffer entirely.
+    ///
+    /// ```rust
+    /// use circular_buffer::CircularBuffer;
+    ///
+    /// let mut buffer = CircularBuffer::from_array([1, 2, 3, 4]);
+    ///
+    /// assert_eq!(buffer.pop(), Some(1));
+    /// assert!(buffer.push(1).is_none());
+    ///
+    /// assert_eq!(buffer.pop_first_n(2).as_ref().map(<_>::as_ref), Some(&[2, 3][..]));
+    /// assert_eq!(buffer.pop_first_n(2).as_ref().map(<_>::as_ref), Some(&[4][..]));
+    /// assert_eq!(buffer.pop_first_n(2).as_ref().map(<_>::as_ref), Some(&[1][..]));
+    /// assert!(buffer.pop_first_n(2).is_none());
+    ///
+    /// assert_eq!(buffer.len(), 0);
+    /// ```
+    pub fn pop_first_n(&mut self, n: usize) -> Option<OwnedSlice<B::Item>> {
+        self.pop_first_n_leaky(n)
+            .map(|x| unsafe { OwnedSlice::new(x) })
+    }
+
+    /// Pop a slice containing up to `n` contiguous elements. Since this buffer is circular it will
+    /// take a maximum of two calls to this function to drain the buffer entirely. This returns a
+    /// slice and so any `Drop` types returned from this function will be leaked.
+    ///
+    /// ```rust
+    /// use circular_buffer::CircularBuffer;
+    ///
+    /// let mut buffer = CircularBuffer::from_array([1, 2, 3, 4]);
+    ///
+    /// assert_eq!(buffer.pop(), Some(1));
+    /// assert!(buffer.push(1).is_none());
+    ///
+    /// assert_eq!(buffer.pop_first_n_leaky(2), Some(&mut [2, 3][..]));
+    /// assert_eq!(buffer.pop_first_n_leaky(2), Some(&mut [4][..]));
+    /// assert_eq!(buffer.pop_first_n_leaky(2), Some(&mut [1][..]));
+    /// assert!(buffer.pop_first_n_leaky(2).is_none());
+    ///
+    /// assert_eq!(buffer.len(), 0);
+    /// ```
+    pub fn pop_first_n_leaky(&mut self, n: usize) -> Option<&mut [B::Item]> {
         use std::slice;
 
         if self.is_empty() {
             None
         } else {
-            let (start, out_length) = (self.start, self.len.min(B::size() - self.start));
+            let (start, out_length) = (self.start, self.len.min(B::size() - self.start).min(n));
 
             self.advance(out_length);
 
@@ -359,6 +406,9 @@ impl<B: Array> CircularBuffer<B> {
     ///
     /// assert_eq!(buffer.capacity(), 4);
     /// ```
+    // We inline-always so that this can get const-folded properly. This is really important for
+    // stuff like `if buf.capacity() > 0 { ... }`.
+    #[inline(always)]
     pub fn capacity(&self) -> usize {
         B::size()
     }
diff --git a/example/examples/echo-dialer.rs b/example/examples/echo-dialer.rs
index d490e7d1..8cbbd0f3 100644
--- a/example/examples/echo-dialer.rs
+++ b/example/examples/echo-dialer.rs
@@ -76,8 +76,8 @@ fn main() {
         })
 
         // On top of plaintext or secio, we will use the multiplex protocol.
-        .with_upgrade(multiplex::MultiplexConfig)
-        // The object returned by the call to `with_upgrade(MultiplexConfig)` can't be used as a
+        .with_upgrade(multiplex::MultiplexConfig::new())
+        // The object returned by the call to `with_upgrade(MultiplexConfig::new())` can't be used as a
         // `Transport` because the output of the upgrade is not a stream but a controller for
         // muxing. We have to explicitly call `into_connection_reuse()` in order to turn this into
         // a `Transport`.
diff --git a/example/examples/echo-server.rs b/example/examples/echo-server.rs
index 5055e2c8..aa0fca83 100644
--- a/example/examples/echo-server.rs
+++ b/example/examples/echo-server.rs
@@ -75,8 +75,8 @@ fn main() {
         })
 
         // On top of plaintext or secio, we will use the multiplex protocol.
-        .with_upgrade(multiplex::MultiplexConfig)
-        // The object returned by the call to `with_upgrade(MultiplexConfig)` can't be used as a
+        .with_upgrade(multiplex::MultiplexConfig::new())
+        // The object returned by the call to `with_upgrade(MultiplexConfig::new())` can't be used as a
         // `Transport` because the output of the upgrade is not a stream but a controller for
         // muxing. We have to explicitly call `into_connection_reuse()` in order to turn this into
         // a `Transport`.
diff --git a/example/examples/floodsub.rs b/example/examples/floodsub.rs
index 4b5dd4c6..e8228615 100644
--- a/example/examples/floodsub.rs
+++ b/example/examples/floodsub.rs
@@ -78,8 +78,8 @@ fn main() {
         })
 
         // On top of plaintext or secio, we will use the multiplex protocol.
-        .with_upgrade(multiplex::MultiplexConfig)
-        // The object returned by the call to `with_upgrade(MultiplexConfig)` can't be used as a
+        .with_upgrade(multiplex::MultiplexConfig::new())
+        // The object returned by the call to `with_upgrade(MultiplexConfig::new())` can't be used as a
         // `Transport` because the output of the upgrade is not a stream but a controller for
         // muxing. We have to explicitly call `into_connection_reuse()` in order to turn this into
         // a `Transport`.
diff --git a/example/examples/kademlia.rs b/example/examples/kademlia.rs
index f30b9a52..cfb3b763 100644
--- a/example/examples/kademlia.rs
+++ b/example/examples/kademlia.rs
@@ -83,8 +83,8 @@ fn main() {
         })
 
         // On top of plaintext or secio, we will use the multiplex protocol.
-        .with_upgrade(multiplex::MultiplexConfig)
-        // The object returned by the call to `with_upgrade(MultiplexConfig)` can't be used as a
+        .with_upgrade(multiplex::MultiplexConfig::new())
+        // The object returned by the call to `with_upgrade(MultiplexConfig::new())` can't be used as a
         // `Transport` because the output of the upgrade is not a stream but a controller for
         // muxing. We have to explicitly call `into_connection_reuse()` in order to turn this into
         // a `Transport`.
diff --git a/example/examples/ping-client.rs b/example/examples/ping-client.rs
index e3c98ad3..2a721408 100644
--- a/example/examples/ping-client.rs
+++ b/example/examples/ping-client.rs
@@ -68,8 +68,8 @@ fn main() {
         })
 
         // On top of plaintext or secio, we will use the multiplex protocol.
-        .with_upgrade(multiplex::MultiplexConfig)
-        // The object returned by the call to `with_upgrade(MultiplexConfig)` can't be used as a
+        .with_upgrade(multiplex::MultiplexConfig::new())
+        // The object returned by the call to `with_upgrade(MultiplexConfig::new())` can't be used as a
         // `Transport` because the output of the upgrade is not a stream but a controller for
         // muxing. We have to explicitly call `into_connection_reuse()` in order to turn this into
         // a `Transport`.
diff --git a/multiplex-rs/Cargo.toml b/multiplex-rs/Cargo.toml
index f1f5516f..7afbb8b1 100644
--- a/multiplex-rs/Cargo.toml
+++ b/multiplex-rs/Cargo.toml
@@ -12,6 +12,7 @@ futures = "0.1"
 parking_lot = "0.4.8"
 arrayvec = "0.4.6"
 rand = "0.3.17"
+circular-buffer = { path = "../circular-buffer" }
 libp2p-swarm = { path = "../swarm" }
 varint = { path = "../varint-rs" }
 error-chain = "0.11.0"
diff --git a/multiplex-rs/src/header.rs b/multiplex-rs/src/header.rs
index e3a01de1..f0346eb3 100644
--- a/multiplex-rs/src/header.rs
+++ b/multiplex-rs/src/header.rs
@@ -53,20 +53,6 @@ impl MultiplexHeader {
         }
     }
 
-    pub fn close(id: u32, end: Endpoint) -> Self {
-        MultiplexHeader {
-            substream_id: id,
-            packet_type: PacketType::Close(end),
-        }
-    }
-
-    pub fn reset(id: u32, end: Endpoint) -> Self {
-        MultiplexHeader {
-            substream_id: id,
-            packet_type: PacketType::Reset(end),
-        }
-    }
-
     pub fn message(id: u32, end: Endpoint) -> Self {
         MultiplexHeader {
             substream_id: id,
diff --git a/multiplex-rs/src/lib.rs b/multiplex-rs/src/lib.rs
index 2a6d665e..ba85fc81 100644
--- a/multiplex-rs/src/lib.rs
+++ b/multiplex-rs/src/lib.rs
@@ -20,6 +20,7 @@
 
 extern crate arrayvec;
 extern crate bytes;
+extern crate circular_buffer;
 #[macro_use]
 extern crate error_chain;
 extern crate futures;
@@ -38,6 +39,7 @@ mod shared;
 mod header;
 
 use bytes::Bytes;
+use circular_buffer::Array;
 use futures::{Async, Future, Poll};
 use futures::future::{self, FutureResult};
 use header::MultiplexHeader;
@@ -65,15 +67,15 @@ use write::write_stream;
 // In the second state, the substream ID is known. Only this substream can progress until the packet
 // is consumed.
 
-pub struct Substream<T> {
+pub struct Substream<T, Buf: Array = [u8; 0]> {
     id: u32,
     end: Endpoint,
     name: Option<Bytes>,
-    state: Arc<Mutex<MultiplexShared<T>>>,
+    state: Arc<Mutex<MultiplexShared<T, Buf>>>,
     buffer: Option<io::Cursor<ByteBuf>>,
 }
 
-impl<T> Drop for Substream<T> {
+impl<T, Buf: Array> Drop for Substream<T, Buf> {
     fn drop(&mut self) {
         let mut lock = self.state.lock().wait().expect("This should never fail");
 
@@ -81,12 +83,12 @@ impl<T> Drop for Substream<T> {
     }
 }
 
-impl<T> Substream<T> {
+impl<T, Buf: Array> Substream<T, Buf> {
     fn new<B: Into<Option<Bytes>>>(
         id: u32,
         end: Endpoint,
         name: B,
-        state: Arc<Mutex<MultiplexShared<T>>>,
+        state: Arc<Mutex<MultiplexShared<T, Buf>>>,
     ) -> Self {
         let name = name.into();
 
@@ -109,7 +111,7 @@ impl<T> Substream<T> {
 }
 
 // TODO: We always zero the buffer, we should delegate to the inner stream.
-impl<T: AsyncRead> Read for Substream<T> {
+impl<T: AsyncRead, Buf: Array<Item = u8>> Read for Substream<T, Buf> {
     fn read(&mut self, buf: &mut [u8]) -> io::Result<usize> {
         let mut lock = match self.state.poll_lock() {
             Async::Ready(lock) => lock,
@@ -120,9 +122,9 @@ impl<T: AsyncRead> Read for Substream<T> {
     }
 }
 
-impl<T: AsyncRead> AsyncRead for Substream<T> {}
+impl<T: AsyncRead, Buf: Array<Item = u8>> AsyncRead for Substream<T, Buf> {}
 
-impl<T: AsyncWrite> Write for Substream<T> {
+impl<T: AsyncWrite, Buf: Array> Write for Substream<T, Buf> {
     fn write(&mut self, buf: &[u8]) -> io::Result<usize> {
         let mut lock = match self.state.poll_lock() {
             Async::Ready(lock) => lock,
@@ -156,19 +158,19 @@ impl<T: AsyncWrite> Write for Substream<T> {
     }
 }
 
-impl<T: AsyncWrite> AsyncWrite for Substream<T> {
+impl<T: AsyncWrite, Buf: Array> AsyncWrite for Substream<T, Buf> {
     fn shutdown(&mut self) -> Poll<(), io::Error> {
         Ok(Async::Ready(()))
     }
 }
 
-pub struct InboundFuture<T> {
+pub struct InboundFuture<T, Buf: Array> {
     end: Endpoint,
-    state: Arc<Mutex<MultiplexShared<T>>>,
+    state: Arc<Mutex<MultiplexShared<T, Buf>>>,
 }
 
-impl<T: AsyncRead> Future for InboundFuture<T> {
-    type Item = Substream<T>;
+impl<T: AsyncRead, Buf: Array<Item = u8>> Future for InboundFuture<T, Buf> {
+    type Item = Substream<T, Buf>;
     type Error = io::Error;
 
     fn poll(&mut self) -> Poll<Self::Item, Self::Error> {
@@ -205,14 +207,14 @@ impl<T: AsyncRead> Future for InboundFuture<T> {
     }
 }
 
-pub struct OutboundFuture<T> {
+pub struct OutboundFuture<T, Buf: Array> {
     meta: Arc<MultiplexMetadata>,
     current_id: Option<(io::Cursor<ByteBuf>, u32)>,
-    state: Arc<Mutex<MultiplexShared<T>>>,
+    state: Arc<Mutex<MultiplexShared<T, Buf>>>,
 }
 
-impl<T> OutboundFuture<T> {
-    fn new(muxer: Multiplex<T>) -> Self {
+impl<T, Buf: Array> OutboundFuture<T, Buf> {
+    fn new(muxer: BufferedMultiplex<T, Buf>) -> Self {
         OutboundFuture {
             current_id: None,
             meta: muxer.meta,
@@ -225,8 +227,8 @@ fn nonce_to_id(id: usize, end: Endpoint) -> u32 {
     id as u32 * 2 + if end == Endpoint::Dialer { 0 } else { 1 }
 }
 
-impl<T: AsyncWrite> Future for OutboundFuture<T> {
-    type Item = Substream<T>;
+impl<T: AsyncWrite, Buf: Array> Future for OutboundFuture<T, Buf> {
+    type Item = Substream<T, Buf>;
     type Error = io::Error;
 
     fn poll(&mut self) -> Poll<Self::Item, Self::Error> {
@@ -284,23 +286,25 @@ pub struct MultiplexMetadata {
     end: Endpoint,
 }
 
-pub struct Multiplex<T> {
+pub type Multiplex<T> = BufferedMultiplex<T, [u8; 0]>;
+
+pub struct BufferedMultiplex<T, Buf: Array> {
     meta: Arc<MultiplexMetadata>,
-    state: Arc<Mutex<MultiplexShared<T>>>,
+    state: Arc<Mutex<MultiplexShared<T, Buf>>>,
 }
 
-impl<T> Clone for Multiplex<T> {
+impl<T, Buf: Array> Clone for BufferedMultiplex<T, Buf> {
     fn clone(&self) -> Self {
-        Multiplex {
+        BufferedMultiplex {
             meta: self.meta.clone(),
             state: self.state.clone(),
         }
     }
 }
 
-impl<T> Multiplex<T> {
+impl<T, Buf: Array> BufferedMultiplex<T, Buf> {
     pub fn new(stream: T, end: Endpoint) -> Self {
-        Multiplex {
+        BufferedMultiplex {
             meta: Arc::new(MultiplexMetadata {
                 nonce: AtomicUsize::new(0),
                 end,
@@ -318,10 +322,10 @@ impl<T> Multiplex<T> {
     }
 }
 
-impl<T: AsyncRead + AsyncWrite> StreamMuxer for Multiplex<T> {
-    type Substream = Substream<T>;
-    type OutboundSubstream = OutboundFuture<T>;
-    type InboundSubstream = InboundFuture<T>;
+impl<T: AsyncRead + AsyncWrite, Buf: Array<Item = u8>> StreamMuxer for BufferedMultiplex<T, Buf> {
+    type Substream = Substream<T, Buf>;
+    type OutboundSubstream = OutboundFuture<T, Buf>;
+    type InboundSubstream = InboundFuture<T, Buf>;
 
     fn inbound(self) -> Self::InboundSubstream {
         InboundFuture {
@@ -335,21 +339,35 @@ impl<T: AsyncRead + AsyncWrite> StreamMuxer for Multiplex<T> {
     }
 }
 
-#[derive(Debug, Copy, Clone)]
-pub struct MultiplexConfig;
+pub type MultiplexConfig = BufferedMultiplexConfig<[u8; 0]>;
 
-impl<C> ConnectionUpgrade<C> for MultiplexConfig
+#[derive(Debug, Copy, Clone)]
+pub struct BufferedMultiplexConfig<Buf: Array>(std::marker::PhantomData<Buf>);
+
+impl<Buf: Array> Default for BufferedMultiplexConfig<Buf> {
+    fn default() -> Self {
+        BufferedMultiplexConfig(std::marker::PhantomData)
+    }
+}
+
+impl<Buf: Array> BufferedMultiplexConfig<Buf> {
+    pub fn new() -> Self {
+        Self::default()
+    }
+}
+
+impl<C, Buf: Array> ConnectionUpgrade<C> for BufferedMultiplexConfig<Buf>
 where
     C: AsyncRead + AsyncWrite,
 {
-    type Output = Multiplex<C>;
-    type Future = FutureResult<Multiplex<C>, io::Error>;
+    type Output = BufferedMultiplex<C, Buf>;
+    type Future = FutureResult<BufferedMultiplex<C, Buf>, io::Error>;
     type UpgradeIdentifier = ();
     type NamesIter = iter::Once<(Bytes, ())>;
 
     #[inline]
     fn upgrade(self, i: C, _: (), end: Endpoint, _: &Multiaddr) -> Self::Future {
-        future::ok(Multiplex::new(i, end))
+        future::ok(BufferedMultiplex::new(i, end))
     }
 
     #[inline]
@@ -361,6 +379,7 @@ where
 #[cfg(test)]
 mod tests {
     use super::*;
+    use header::PacketType;
     use std::io;
     use tokio_io::io as tokio;
 
@@ -523,7 +542,10 @@ mod tests {
             .chain(
                 varint::encode(
                     // ID for an unopened stream: 1
-                    MultiplexHeader::close(0, Endpoint::Dialer).to_u64(),
+                    MultiplexHeader {
+                        packet_type: PacketType::Close(Endpoint::Dialer),
+                        substream_id: 0,
+                    }.to_u64(),
                 ).into_iter(),
             )
             .chain(varint::encode(dummy_length))
@@ -614,4 +636,70 @@ mod tests {
         assert_eq!(&out[1..0x14 - 1], b"/multistream/1.0.0");
         assert_eq!(out[0x14 - 1], 0x0a);
     }
+
+    #[test]
+    fn can_buffer() {
+        type Buffer = [u8; 1024];
+
+        let stream = io::Cursor::new(Vec::new());
+
+        let mplex = BufferedMultiplex::<_, Buffer>::dial(stream);
+
+        let mut outbound: Vec<Substream<_, Buffer>> = vec![];
+
+        for _ in 0..5 {
+            outbound.push(mplex.clone().outbound().wait().unwrap());
+        }
+
+        outbound.sort_by_key(|a| a.id());
+
+        for (i, substream) in outbound.iter_mut().enumerate() {
+            assert!(
+                tokio::write_all(substream, i.to_string().as_bytes())
+                    .wait()
+                    .is_ok()
+            );
+        }
+
+        let stream = io::Cursor::new(mplex.state.lock().wait().unwrap().stream.get_ref().clone());
+
+        let mplex = BufferedMultiplex::<_, Buffer>::listen(stream);
+
+        let mut inbound: Vec<Substream<_, Buffer>> = vec![];
+
+        for _ in 0..5 {
+            let inb: Substream<_, Buffer> = mplex.clone().inbound().wait().unwrap();
+            inbound.push(inb);
+        }
+
+        inbound.sort_by_key(|a| a.id());
+
+        // Skip the first substream and let it be cached.
+        for (mut substream, outbound) in inbound.iter_mut().zip(outbound.iter()).skip(1) {
+            let id = outbound.id();
+            assert_eq!(id, substream.id());
+            assert_eq!(
+                substream
+                    .name()
+                    .and_then(|bytes| String::from_utf8(bytes.to_vec()).ok()),
+                Some(id.to_string())
+            );
+
+            let mut buf = [0; 3];
+            assert_eq!(tokio::read(&mut substream, &mut buf).wait().unwrap().2, 1);
+        }
+
+        let (mut substream, outbound) = (&mut inbound[0], &outbound[0]);
+        let id = outbound.id();
+        assert_eq!(id, substream.id());
+        assert_eq!(
+            substream
+                .name()
+                .and_then(|bytes| String::from_utf8(bytes.to_vec()).ok()),
+            Some(id.to_string())
+        );
+
+        let mut buf = [0; 3];
+        assert_eq!(tokio::read(&mut substream, &mut buf).wait().unwrap().2, 1);
+    }
 }
diff --git a/multiplex-rs/src/read.rs b/multiplex-rs/src/read.rs
index ab6a36c9..2559d80e 100644
--- a/multiplex-rs/src/read.rs
+++ b/multiplex-rs/src/read.rs
@@ -25,6 +25,7 @@ use header::{MultiplexHeader, PacketType};
 use std::io;
 use tokio_io::AsyncRead;
 use shared::SubstreamMetadata;
+use circular_buffer::Array;
 
 pub enum NextMultiplexState {
     NewStream(u32),
@@ -76,14 +77,97 @@ fn create_buffer(capacity: usize) -> bytes::BytesMut {
     buffer
 }
 
-pub fn read_stream<'a, O: Into<Option<(u32, &'a mut [u8])>>, T: AsyncRead>(
-    lock: &mut ::shared::MultiplexShared<T>,
+fn block_on_wrong_stream<T: AsyncRead, Buf: Array<Item = u8>>(
+    substream_id: u32,
+    remaining_bytes: usize,
+    lock: &mut ::shared::MultiplexShared<T, Buf>,
+) -> io::Result<()> {
+    use std::{mem, slice};
+
+    lock.read_state = Some(MultiplexReadState::ParsingMessageBody {
+        substream_id,
+        remaining_bytes,
+    });
+
+    if let Some((tasks, cache)) = lock.open_streams
+        .entry(substream_id)
+        .or_insert_with(|| SubstreamMetadata::new_open())
+        .open_meta_mut()
+        .map(|cur| {
+            (
+                mem::replace(&mut cur.read, Default::default()),
+                &mut cur.read_cache,
+            )
+        }) {
+        // We check `cache.capacity()` since that can totally statically remove this branch in the
+        // `== 0` path.
+        if cache.capacity() > 0 && cache.len() < cache.capacity() {
+            let mut buf: Buf = unsafe { mem::uninitialized() };
+
+            // Can't fail because `cache.len() >= 0`,
+            // `cache.len() <= cache.capacity()` and
+            // `cache.capacity() == mem::size_of::<Buf>()`
+            let buf_prefix = unsafe {
+                let max_that_fits_in_buffer = cache.capacity() - cache.len();
+                // We know this won't panic because of the earlier
+                // `number_read >= buf.len()` check
+                let new_len = max_that_fits_in_buffer.min(remaining_bytes);
+
+                slice::from_raw_parts_mut(buf.ptr_mut(), new_len)
+            };
+
+            match lock.stream.read(buf_prefix) {
+                Ok(consumed) => {
+                    let new_remaining = remaining_bytes - consumed;
+
+                    assert!(cache.extend_from_slice(&buf_prefix[..consumed]));
+
+                    lock.read_state = Some(MultiplexReadState::ParsingMessageBody {
+                        substream_id,
+                        remaining_bytes: new_remaining,
+                    });
+                }
+                Err(err) => {
+                    if err.kind() != io::ErrorKind::WouldBlock {
+                        for task in tasks {
+                            task.notify();
+                        }
+
+                        return Err(err);
+                    }
+                }
+            }
+        }
+
+        for task in tasks {
+            task.notify();
+        }
+    }
+
+    Ok(())
+}
+
+pub fn read_stream<
+    'a,
+    Buf: Array<Item = u8>,
+    O: Into<Option<(u32, &'a mut [u8])>>,
+    T: AsyncRead,
+>(
+    lock: &mut ::shared::MultiplexShared<T, Buf>,
     stream_data: O,
 ) -> io::Result<usize> {
-    use self::MultiplexReadState::*;
-    use std::mem;
+    read_stream_internal(lock, stream_data.into())
+}
 
-    let mut stream_data = stream_data.into();
+fn read_stream_internal<T: AsyncRead, Buf: Array<Item = u8>>(
+    lock: &mut ::shared::MultiplexShared<T, Buf>,
+    mut stream_data: Option<(u32, &mut [u8])>,
+) -> io::Result<usize> {
+    use self::MultiplexReadState::*;
+
+    // This is only true if a stream exists and it has been closed in a "graceful" manner, so we
+    // can return `Ok(0)` like the `Read` trait requests. In any other case we want to return
+    // `WouldBlock`
     let stream_has_been_gracefully_closed = stream_data
         .as_ref()
         .and_then(|&(id, _)| lock.open_streams.get(&id))
@@ -96,13 +180,34 @@ pub fn read_stream<'a, O: Into<Option<(u32, &'a mut [u8])>>, T: AsyncRead>(
         Err(io::ErrorKind::WouldBlock.into())
     };
 
-    if let Some((ref id, ..)) = stream_data {
+    if let Some((ref mut id, ref mut buf)) = stream_data {
         if let Some(cur) = lock.open_streams
             .entry(*id)
             .or_insert_with(|| SubstreamMetadata::new_open())
-            .read_tasks_mut()
+            .open_meta_mut()
         {
-            cur.push(task::current());
+            cur.read.push(task::current());
+
+            let cache = &mut cur.read_cache;
+
+            if !cache.is_empty() {
+                let mut consumed = 0;
+                loop {
+                    let cur_buf = &mut buf[consumed..];
+                    if cur_buf.is_empty() {
+                        break;
+                    }
+
+                    if let Some(out) = cache.pop_first_n_leaky(cur_buf.len()) {
+                        cur_buf[..out.len()].copy_from_slice(out);
+                        consumed += out.len();
+                    } else {
+                        break;
+                    };
+                }
+
+                on_block = Ok(consumed);
+            }
         }
     }
 
@@ -284,11 +389,11 @@ pub fn read_stream<'a, O: Into<Option<(u32, &'a mut [u8])>>, T: AsyncRead>(
                 if let Some((ref mut id, ref mut buf)) = stream_data {
                     use MultiplexReadState::*;
 
+                    let number_read = *on_block.as_ref().unwrap_or(&0);
+
                     if remaining_bytes == 0 {
                         lock.read_state = None;
                     } else if substream_id == *id {
-                        let number_read = *on_block.as_ref().unwrap_or(&0);
-
                         if number_read >= buf.len() {
                             lock.read_state = Some(ParsingMessageBody {
                                 substream_id,
@@ -307,6 +412,11 @@ pub fn read_stream<'a, O: Into<Option<(u32, &'a mut [u8])>>, T: AsyncRead>(
                             lock.stream.read(slice)
                         };
 
+                        lock.read_state = Some(ParsingMessageBody {
+                            substream_id,
+                            remaining_bytes,
+                        });
+
                         match read_result {
                             Ok(consumed) => {
                                 let new_remaining = remaining_bytes - consumed;
@@ -319,58 +429,22 @@ pub fn read_stream<'a, O: Into<Option<(u32, &'a mut [u8])>>, T: AsyncRead>(
                                 on_block = Ok(number_read + consumed);
                             }
                             Err(ref err) if err.kind() == io::ErrorKind::WouldBlock => {
-                                lock.read_state = Some(ParsingMessageBody {
-                                    substream_id,
-                                    remaining_bytes,
-                                });
-
                                 return on_block;
                             }
                             Err(other) => {
-                                lock.read_state = Some(ParsingMessageBody {
-                                    substream_id,
-                                    remaining_bytes,
-                                });
-
                                 return Err(other);
                             }
                         }
                     } else {
-                        lock.read_state = Some(ParsingMessageBody {
-                            substream_id,
-                            remaining_bytes,
-                        });
-
-                        if let Some(tasks) = lock.open_streams
-                            .get_mut(&substream_id)
-                            .and_then(SubstreamMetadata::read_tasks_mut)
-                            .map(|cur| mem::replace(cur, Default::default()))
-                        {
-                            for task in tasks {
-                                task.notify();
-                            }
-                        }
-
                         // We cannot make progress here, another stream has to accept this packet
+                        block_on_wrong_stream(substream_id, remaining_bytes, lock)?;
+
                         return on_block;
                     }
                 } else {
-                    lock.read_state = Some(ParsingMessageBody {
-                        substream_id,
-                        remaining_bytes,
-                    });
+                    // We cannot make progress here, another stream has to accept this packet
+                    block_on_wrong_stream(substream_id, remaining_bytes, lock)?;
 
-                    if let Some(tasks) = lock.open_streams
-                        .get_mut(&substream_id)
-                        .and_then(SubstreamMetadata::read_tasks_mut)
-                        .map(|cur| mem::replace(cur, Default::default()))
-                    {
-                        for task in tasks {
-                            task.notify();
-                        }
-                    }
-
-                    // We cannot make progress here, a stream has to accept this packet
                     return on_block;
                 }
             }
diff --git a/multiplex-rs/src/shared.rs b/multiplex-rs/src/shared.rs
index 9d4fce22..c16b8f5a 100644
--- a/multiplex-rs/src/shared.rs
+++ b/multiplex-rs/src/shared.rs
@@ -21,6 +21,7 @@
 use read::MultiplexReadState;
 use write::MultiplexWriteState;
 
+use circular_buffer::{Array, CircularBuffer};
 use std::collections::HashMap;
 use bytes::Bytes;
 use arrayvec::ArrayVec;
@@ -30,17 +31,24 @@ const BUF_SIZE: usize = 1024;
 
 pub type ByteBuf = ArrayVec<[u8; BUF_SIZE]>;
 
-pub enum SubstreamMetadata {
+pub enum SubstreamMetadata<Buf: Array> {
     Closed,
-    Open { read: Vec<Task>, write: Vec<Task> },
+    Open(OpenSubstreamMetadata<Buf>),
 }
 
-impl SubstreamMetadata {
+pub struct OpenSubstreamMetadata<Buf: Array> {
+    pub read_cache: CircularBuffer<Buf>,
+    pub read: Vec<Task>,
+    pub write: Vec<Task>,
+}
+
+impl<Buf: Array> SubstreamMetadata<Buf> {
     pub fn new_open() -> Self {
-        SubstreamMetadata::Open {
+        SubstreamMetadata::Open(OpenSubstreamMetadata {
+            read_cache: Default::default(),
             read: Default::default(),
             write: Default::default(),
-        }
+        })
     }
 
     pub fn open(&self) -> bool {
@@ -50,24 +58,17 @@ impl SubstreamMetadata {
         }
     }
 
-    pub fn read_tasks_mut(&mut self) -> Option<&mut Vec<Task>> {
+    pub fn open_meta_mut(&mut self) -> Option<&mut OpenSubstreamMetadata<Buf>> {
         match *self {
             SubstreamMetadata::Closed => None,
-            SubstreamMetadata::Open { ref mut read, .. } => Some(read),
-        }
-    }
-
-    pub fn write_tasks_mut(&mut self) -> Option<&mut Vec<Task>> {
-        match *self {
-            SubstreamMetadata::Closed => None,
-            SubstreamMetadata::Open { ref mut write, .. } => Some(write),
+            SubstreamMetadata::Open(ref mut meta) => Some(meta),
         }
     }
 }
 
 // TODO: Split reading and writing into different structs and have information shared between the
 //       two in a `RwLock`, since `open_streams` and `to_open` are mostly read-only.
-pub struct MultiplexShared<T> {
+pub struct MultiplexShared<T, Buf: Array> {
     // We use `Option` in order to take ownership of heap allocations within `DecoderState` and
     // `BytesMut`. If this is ever observably `None` then something has panicked or the underlying
     // stream returned an error.
@@ -75,7 +76,7 @@ pub struct MultiplexShared<T> {
     pub write_state: Option<MultiplexWriteState>,
     pub stream: T,
     // true if the stream is open, false otherwise
-    pub open_streams: HashMap<u32, SubstreamMetadata>,
+    pub open_streams: HashMap<u32, SubstreamMetadata<Buf>>,
     pub meta_write_tasks: Vec<Task>,
     // TODO: Should we use a version of this with a fixed size that doesn't allocate and return
     //       `WouldBlock` if it's full? Even if we ignore or size-cap names you can still open 2^32
@@ -83,7 +84,7 @@ pub struct MultiplexShared<T> {
     pub to_open: HashMap<u32, Option<Bytes>>,
 }
 
-impl<T> MultiplexShared<T> {
+impl<T, Buf: Array> MultiplexShared<T, Buf> {
     pub fn new(stream: T) -> Self {
         MultiplexShared {
             read_state: Default::default(),
@@ -98,10 +99,7 @@ impl<T> MultiplexShared<T> {
     pub fn open_stream(&mut self, id: u32) -> bool {
         self.open_streams
             .entry(id)
-            .or_insert(SubstreamMetadata::Open {
-                read: Default::default(),
-                write: Default::default(),
-            })
+            .or_insert(SubstreamMetadata::new_open())
             .open()
     }
 
diff --git a/multiplex-rs/src/write.rs b/multiplex-rs/src/write.rs
index 5eaf40f1..958d792c 100644
--- a/multiplex-rs/src/write.rs
+++ b/multiplex-rs/src/write.rs
@@ -21,6 +21,7 @@
 use shared::{ByteBuf, MultiplexShared, SubstreamMetadata};
 use header::MultiplexHeader;
 
+use circular_buffer;
 use varint;
 use futures::task;
 use std::io;
@@ -69,8 +70,8 @@ pub enum MultiplexWriteStateInner {
     Body { size: usize },
 }
 
-pub fn write_stream<T: AsyncWrite>(
-    lock: &mut MultiplexShared<T>,
+pub fn write_stream<Buf: circular_buffer::Array, T: AsyncWrite>(
+    lock: &mut MultiplexShared<T, Buf>,
     write_request: WriteRequest,
     buf: &mut io::Cursor<ByteBuf>,
 ) -> io::Result<usize> {
@@ -103,15 +104,15 @@ pub fn write_stream<T: AsyncWrite>(
             if let Some(cur) = lock.open_streams
                 .entry(id)
                 .or_insert_with(|| SubstreamMetadata::new_open())
-                .write_tasks_mut()
+                .open_meta_mut()
             {
-                cur.push(task::current());
+                cur.write.push(task::current());
             }
 
             if let Some(tasks) = lock.open_streams
                 .get_mut(&request.header.substream_id)
-                .and_then(SubstreamMetadata::write_tasks_mut)
-                .map(|cur| mem::replace(cur, Default::default()))
+                .and_then(SubstreamMetadata::open_meta_mut)
+                .map(|cur| mem::replace(&mut cur.write, Default::default()))
             {
                 for task in tasks {
                     task.notify();
@@ -129,8 +130,8 @@ pub fn write_stream<T: AsyncWrite>(
 
             if let Some(tasks) = lock.open_streams
                 .get_mut(&request.header.substream_id)
-                .and_then(SubstreamMetadata::write_tasks_mut)
-                .map(|cur| mem::replace(cur, Default::default()))
+                .and_then(SubstreamMetadata::open_meta_mut)
+                .map(|cur| mem::replace(&mut cur.write, Default::default()))
             {
                 for task in tasks {
                     task.notify();
@@ -147,9 +148,9 @@ pub fn write_stream<T: AsyncWrite>(
             if let Some(cur) = lock.open_streams
                 .entry(id)
                 .or_insert_with(|| SubstreamMetadata::new_open())
-                .write_tasks_mut()
+                .open_meta_mut()
             {
-                cur.push(task::current());
+                cur.write.push(task::current());
             }
 
             for task in mem::replace(&mut lock.meta_write_tasks, Default::default()) {
diff --git a/multiplex-rs/tests/two_peers.rs b/multiplex-rs/tests/two_peers.rs
index ad30f22c..c3e00ba6 100644
--- a/multiplex-rs/tests/two_peers.rs
+++ b/multiplex-rs/tests/two_peers.rs
@@ -43,7 +43,8 @@ fn client_to_server_outbound() {
 
     let bg_thread = thread::spawn(move || {
         let mut core = Core::new().unwrap();
-        let transport = TcpConfig::new(core.handle()).with_upgrade(multiplex::MultiplexConfig);
+        let transport =
+            TcpConfig::new(core.handle()).with_upgrade(multiplex::MultiplexConfig::new());
 
         let (listener, addr) = transport
             .listen_on("/ip4/127.0.0.1/tcp/0".parse().unwrap())
@@ -72,7 +73,7 @@ fn client_to_server_outbound() {
     });
 
     let mut core = Core::new().unwrap();
-    let transport = TcpConfig::new(core.handle()).with_upgrade(multiplex::MultiplexConfig);
+    let transport = TcpConfig::new(core.handle()).with_upgrade(multiplex::MultiplexConfig::new());
 
     let future = transport
         .dial(rx.recv().unwrap())
@@ -94,7 +95,8 @@ fn client_to_server_inbound() {
 
     let bg_thread = thread::spawn(move || {
         let mut core = Core::new().unwrap();
-        let transport = TcpConfig::new(core.handle()).with_upgrade(multiplex::MultiplexConfig);
+        let transport =
+            TcpConfig::new(core.handle()).with_upgrade(multiplex::MultiplexConfig::new());
 
         let (listener, addr) = transport
             .listen_on("/ip4/127.0.0.1/tcp/0".parse().unwrap())
@@ -123,7 +125,7 @@ fn client_to_server_inbound() {
     });
 
     let mut core = Core::new().unwrap();
-    let transport = TcpConfig::new(core.handle()).with_upgrade(multiplex::MultiplexConfig);
+    let transport = TcpConfig::new(core.handle()).with_upgrade(multiplex::MultiplexConfig::new());
 
     let future = transport
         .dial(rx.recv().unwrap())
diff --git a/swarm/tests/multiplex.rs b/swarm/tests/multiplex.rs
index 97ff2557..19c6c58e 100644
--- a/swarm/tests/multiplex.rs
+++ b/swarm/tests/multiplex.rs
@@ -79,7 +79,7 @@ fn client_to_server_outbound() {
     let bg_thread = thread::spawn(move || {
         let mut core = Core::new().unwrap();
         let transport = TcpConfig::new(core.handle())
-            .with_upgrade(multiplex::MultiplexConfig)
+            .with_upgrade(multiplex::MultiplexConfig::new())
             .into_connection_reuse();
 
         let (listener, addr) = transport
@@ -109,7 +109,7 @@ fn client_to_server_outbound() {
     });
 
     let mut core = Core::new().unwrap();
-    let transport = TcpConfig::new(core.handle()).with_upgrade(multiplex::MultiplexConfig);
+    let transport = TcpConfig::new(core.handle()).with_upgrade(multiplex::MultiplexConfig::new());
 
     let future = transport
         .dial(rx.recv().unwrap())
@@ -133,7 +133,7 @@ fn connection_reused_for_dialing() {
     let bg_thread = thread::spawn(move || {
         let mut core = Core::new().unwrap();
         let transport = OnlyOnce::from(TcpConfig::new(core.handle()))
-            .with_upgrade(multiplex::MultiplexConfig)
+            .with_upgrade(multiplex::MultiplexConfig::new())
             .into_connection_reuse();
 
         let (listener, addr) = transport
@@ -175,7 +175,7 @@ fn connection_reused_for_dialing() {
 
     let mut core = Core::new().unwrap();
     let transport = OnlyOnce::from(TcpConfig::new(core.handle()))
-        .with_upgrade(multiplex::MultiplexConfig)
+        .with_upgrade(multiplex::MultiplexConfig::new())
         .into_connection_reuse();
 
     let listen_addr = rx.recv().unwrap();
@@ -211,8 +211,8 @@ fn use_opened_listen_to_dial() {
 
     let bg_thread = thread::spawn(move || {
         let mut core = Core::new().unwrap();
-        let transport =
-            OnlyOnce::from(TcpConfig::new(core.handle())).with_upgrade(multiplex::MultiplexConfig);
+        let transport = OnlyOnce::from(TcpConfig::new(core.handle()))
+            .with_upgrade(multiplex::MultiplexConfig::new());
 
         let (listener, addr) = transport
             .clone()
@@ -254,7 +254,7 @@ fn use_opened_listen_to_dial() {
 
     let mut core = Core::new().unwrap();
     let transport = OnlyOnce::from(TcpConfig::new(core.handle()))
-        .with_upgrade(multiplex::MultiplexConfig)
+        .with_upgrade(multiplex::MultiplexConfig::new())
         .into_connection_reuse();
 
     let listen_addr = rx.recv().unwrap();