diff --git a/CHANGELOG.md b/CHANGELOG.md
index 81e30fcc..bba6dd77 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,26 @@
 # Changelog
 
+## 0.5.0 (April 18, 2017)
+
+BREAKING CHANGES: 
+
+- Remove or unexport methods from FuzzedConnection: Active, Mode, ProbDropRW, ProbDropConn, ProbSleep, MaxDelayMilliseconds, Fuzz
+- switch.AddPeerWithConnection is unexported and replaced by switch.AddPeer
+- switch.DialPeerWithAddress takes a bool, setting the peer as persistent or not
+
+FEATURES:
+
+- Persistent peers: any peer considered a "seed" will be reconnected to when the connection is dropped
+
+
+IMPROVEMENTS:
+
+- Many more tests and comments
+- Refactor configurations for less dependence on go-config. Introduces new structs PeerConfig, MConnConfig, FuzzConnConfig
+- New methods on peer: CloseConn, HandshakeTimeout, IsPersistent, Addr, PubKey
+- NewNetAddress supports a testing mode where the address defaults to 0.0.0.0:0
+
+
 ## 0.4.0 (March 6, 2017)
 
 BREAKING CHANGES: 
diff --git a/version.go b/version.go
index c13ec447..9a4c7bba 100644
--- a/version.go
+++ b/version.go
@@ -1,3 +1,3 @@
 package p2p
 
-const Version = "0.4.0" // DialSeeds returns an error
+const Version = "0.5.0"