diff --git a/Cargo.lock b/Cargo.lock
index fe9bd1df86..95994c64f5 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -20,7 +20,7 @@ checksum = "c71b1793ee61086797f5c80b6efa2b8ffa6d5dd703f118545808a7f2e27f7046"
 
 [[package]]
 name = "accounting"
-version = "0.4.3"
+version = "0.5.0"
 dependencies = [
  "common",
  "parity-scale-codec",
@@ -241,7 +241,7 @@ checksum = "25bdb32cbbdce2b519a9cd7df3a678443100e265d5e25ca763b7572a5104f5f3"
 
 [[package]]
 name = "api-blockchain-scanner-daemon"
-version = "0.4.3"
+version = "0.5.0"
 dependencies = [
  "api-blockchain-scanner-lib",
  "api-server-common",
@@ -259,7 +259,7 @@ dependencies = [
 
 [[package]]
 name = "api-blockchain-scanner-lib"
-version = "0.4.3"
+version = "0.5.0"
 dependencies = [
  "api-server-common",
  "async-trait",
@@ -285,7 +285,7 @@ dependencies = [
 
 [[package]]
 name = "api-server-backend-test-suite"
-version = "0.4.3"
+version = "0.5.0"
 dependencies = [
  "api-server-common",
  "async-trait",
@@ -308,7 +308,7 @@ dependencies = [
 
 [[package]]
 name = "api-server-common"
-version = "0.4.3"
+version = "0.5.0"
 dependencies = [
  "async-trait",
  "bb8-postgres",
@@ -332,7 +332,7 @@ dependencies = [
 
 [[package]]
 name = "api-server-stack-test-suite"
-version = "0.4.3"
+version = "0.5.0"
 dependencies = [
  "api-blockchain-scanner-lib",
  "api-server-common",
@@ -361,7 +361,7 @@ dependencies = [
 
 [[package]]
 name = "api-web-server"
-version = "0.4.3"
+version = "0.5.0"
 dependencies = [
  "api-server-common",
  "async-trait",
@@ -889,7 +889,7 @@ dependencies = [
 
 [[package]]
 name = "blockprod"
-version = "0.4.3"
+version = "0.5.0"
 dependencies = [
  "async-trait",
  "chainstate",
@@ -1137,7 +1137,7 @@ dependencies = [
 
 [[package]]
 name = "chainstate"
-version = "0.4.3"
+version = "0.5.0"
 dependencies = [
  "accounting",
  "async-trait",
@@ -1180,7 +1180,7 @@ dependencies = [
 
 [[package]]
 name = "chainstate-launcher"
-version = "0.4.3"
+version = "0.5.0"
 dependencies = [
  "chainstate",
  "chainstate-storage",
@@ -1195,7 +1195,7 @@ dependencies = [
 
 [[package]]
 name = "chainstate-storage"
-version = "0.4.3"
+version = "0.5.0"
 dependencies = [
  "accounting",
  "chainstate-types",
@@ -1219,7 +1219,7 @@ dependencies = [
 
 [[package]]
 name = "chainstate-test-framework"
-version = "0.4.3"
+version = "0.5.0"
 dependencies = [
  "chainstate",
  "chainstate-storage",
@@ -1247,7 +1247,7 @@ dependencies = [
 
 [[package]]
 name = "chainstate-test-suite"
-version = "0.4.3"
+version = "0.5.0"
 dependencies = [
  "accounting",
  "chainstate",
@@ -1278,7 +1278,7 @@ dependencies = [
 
 [[package]]
 name = "chainstate-types"
-version = "0.4.3"
+version = "0.5.0"
 dependencies = [
  "common",
  "crypto",
@@ -1516,7 +1516,7 @@ dependencies = [
 
 [[package]]
 name = "common"
-version = "0.4.3"
+version = "0.5.0"
 dependencies = [
  "anyhow",
  "bech32 0.11.0",
@@ -1569,7 +1569,7 @@ dependencies = [
 
 [[package]]
 name = "consensus"
-version = "0.4.3"
+version = "0.5.0"
 dependencies = [
  "chainstate-types",
  "common",
@@ -1590,7 +1590,7 @@ dependencies = [
 
 [[package]]
 name = "constraints-value-accumulator"
-version = "0.4.3"
+version = "0.5.0"
 dependencies = [
  "common",
  "crypto",
@@ -1814,7 +1814,7 @@ checksum = "7a81dae078cea95a014a339291cec439d2f232ebe854a9d672b796c6afafa9b7"
 
 [[package]]
 name = "crypto"
-version = "0.4.3"
+version = "0.5.0"
 dependencies = [
  "argon2",
  "bip39",
@@ -2097,7 +2097,7 @@ dependencies = [
 
 [[package]]
 name = "dns-server"
-version = "0.4.3"
+version = "0.5.0"
 dependencies = [
  "anyhow",
  "async-trait",
@@ -3935,7 +3935,7 @@ checksum = "90ed8c1e510134f979dbc4f070f87d4313098b704861a105fe34231c70a3901c"
 
 [[package]]
 name = "log_error"
-version = "0.4.3"
+version = "0.5.0"
 dependencies = [
  "derive_more",
  "logging",
@@ -3948,7 +3948,7 @@ dependencies = [
 
 [[package]]
 name = "logging"
-version = "0.4.3"
+version = "0.5.0"
 dependencies = [
  "log",
  "thiserror",
@@ -4114,7 +4114,7 @@ dependencies = [
 
 [[package]]
 name = "mempool"
-version = "0.4.3"
+version = "0.5.0"
 dependencies = [
  "accounting",
  "anyhow",
@@ -4154,7 +4154,7 @@ dependencies = [
 
 [[package]]
 name = "mempool-types"
-version = "0.4.3"
+version = "0.5.0"
 dependencies = [
  "p2p-types",
  "rpc-description",
@@ -4217,7 +4217,7 @@ dependencies = [
 
 [[package]]
 name = "mintlayer-core"
-version = "0.4.3"
+version = "0.5.0"
 dependencies = [
  "chainstate",
  "chainstate-storage",
@@ -4236,7 +4236,7 @@ dependencies = [
 
 [[package]]
 name = "mintlayer-test"
-version = "0.4.3"
+version = "0.5.0"
 dependencies = [
  "clap",
  "libtest-mimic",
@@ -4291,7 +4291,7 @@ dependencies = [
 
 [[package]]
 name = "mocks"
-version = "0.4.3"
+version = "0.5.0"
 dependencies = [
  "async-trait",
  "chainstate",
@@ -4379,7 +4379,7 @@ dependencies = [
 
 [[package]]
 name = "networking"
-version = "0.4.3"
+version = "0.5.0"
 dependencies = [
  "async-trait",
  "bytes",
@@ -4426,7 +4426,7 @@ dependencies = [
 
 [[package]]
 name = "node-comm"
-version = "0.4.3"
+version = "0.5.0"
 dependencies = [
  "async-trait",
  "base64 0.22.1",
@@ -4453,7 +4453,7 @@ dependencies = [
 
 [[package]]
 name = "node-daemon"
-version = "0.4.3"
+version = "0.5.0"
 dependencies = [
  "anyhow",
  "assert_cmd",
@@ -4467,7 +4467,7 @@ dependencies = [
 
 [[package]]
 name = "node-gui"
-version = "0.4.3"
+version = "0.5.0"
 dependencies = [
  "anyhow",
  "chainstate",
@@ -4499,7 +4499,7 @@ dependencies = [
 
 [[package]]
 name = "node-lib"
-version = "0.4.3"
+version = "0.5.0"
 dependencies = [
  "anyhow",
  "blockprod",
@@ -4886,7 +4886,7 @@ dependencies = [
 
 [[package]]
 name = "p2p"
-version = "0.4.3"
+version = "0.5.0"
 dependencies = [
  "async-trait",
  "chainstate",
@@ -4937,7 +4937,7 @@ dependencies = [
 
 [[package]]
 name = "p2p-backend-test-suite"
-version = "0.4.3"
+version = "0.5.0"
 dependencies = [
  "chainstate",
  "common",
@@ -4957,7 +4957,7 @@ dependencies = [
 
 [[package]]
 name = "p2p-test-utils"
-version = "0.4.3"
+version = "0.5.0"
 dependencies = [
  "chainstate",
  "chainstate-storage",
@@ -4977,7 +4977,7 @@ dependencies = [
 
 [[package]]
 name = "p2p-types"
-version = "0.4.3"
+version = "0.5.0"
 dependencies = [
  "common",
  "parity-scale-codec",
@@ -5297,7 +5297,7 @@ dependencies = [
 
 [[package]]
 name = "pos-accounting"
-version = "0.4.3"
+version = "0.5.0"
 dependencies = [
  "accounting",
  "chainstate-types",
@@ -5666,7 +5666,7 @@ dependencies = [
 
 [[package]]
 name = "randomness"
-version = "0.4.3"
+version = "0.5.0"
 dependencies = [
  "rand 0.8.5",
 ]
@@ -6017,7 +6017,7 @@ checksum = "3cd14fd5e3b777a7422cca79358c57a8f6e3a703d9ac187448d0daf220c2407f"
 
 [[package]]
 name = "rpc"
-version = "0.4.3"
+version = "0.5.0"
 dependencies = [
  "anyhow",
  "async-trait",
@@ -6047,7 +6047,7 @@ dependencies = [
 
 [[package]]
 name = "rpc-description"
-version = "0.4.3"
+version = "0.5.0"
 dependencies = [
  "rpc-description-macro",
  "serde_json",
@@ -6055,7 +6055,7 @@ dependencies = [
 
 [[package]]
 name = "rpc-description-macro"
-version = "0.4.3"
+version = "0.5.0"
 dependencies = [
  "proc-macro2",
  "quote",
@@ -6064,7 +6064,7 @@ dependencies = [
 
 [[package]]
 name = "rpc-types"
-version = "0.4.3"
+version = "0.5.0"
 dependencies = [
  "hex",
  "rpc-description",
@@ -6372,7 +6372,7 @@ checksum = "94143f37725109f92c262ed2cf5e59bce7498c01bcc1502d7b9afe439a4e9f49"
 
 [[package]]
 name = "script"
-version = "0.4.3"
+version = "0.5.0"
 dependencies = [
  "crypto",
  "flate2",
@@ -6624,7 +6624,7 @@ dependencies = [
 
 [[package]]
 name = "serialization"
-version = "0.4.3"
+version = "0.5.0"
 dependencies = [
  "hex",
  "rpc-description",
@@ -6637,7 +6637,7 @@ dependencies = [
 
 [[package]]
 name = "serialization-core"
-version = "0.4.3"
+version = "0.5.0"
 dependencies = [
  "arraytools",
  "hex-literal",
@@ -6647,7 +6647,7 @@ dependencies = [
 
 [[package]]
 name = "serialization-tagged"
-version = "0.4.3"
+version = "0.5.0"
 dependencies = [
  "parity-scale-codec",
  "proptest",
@@ -6659,7 +6659,7 @@ dependencies = [
 
 [[package]]
 name = "serialization-tagged-derive"
-version = "0.4.3"
+version = "0.5.0"
 dependencies = [
  "itertools 0.12.1",
  "proc-macro2",
@@ -6982,7 +6982,7 @@ checksum = "a2eb9349b6444b326872e140eb1cf5e7c522154d69e7a0ffb0fb81c06b37543f"
 
 [[package]]
 name = "storage"
-version = "0.4.3"
+version = "0.5.0"
 dependencies = [
  "serialization",
  "storage-core",
@@ -6992,7 +6992,7 @@ dependencies = [
 
 [[package]]
 name = "storage-backend-test-suite"
-version = "0.4.3"
+version = "0.5.0"
 dependencies = [
  "libtest-mimic",
  "logging",
@@ -7003,7 +7003,7 @@ dependencies = [
 
 [[package]]
 name = "storage-core"
-version = "0.4.3"
+version = "0.5.0"
 dependencies = [
  "itertools 0.12.1",
  "logging",
@@ -7013,7 +7013,7 @@ dependencies = [
 
 [[package]]
 name = "storage-failing"
-version = "0.4.3"
+version = "0.5.0"
 dependencies = [
  "enumflags2",
  "storage",
@@ -7025,7 +7025,7 @@ dependencies = [
 
 [[package]]
 name = "storage-inmemory"
-version = "0.4.3"
+version = "0.5.0"
 dependencies = [
  "storage-backend-test-suite",
  "storage-core",
@@ -7034,7 +7034,7 @@ dependencies = [
 
 [[package]]
 name = "storage-lmdb"
-version = "0.4.3"
+version = "0.5.0"
 dependencies = [
  "lmdb-mintlayer",
  "logging",
@@ -7048,7 +7048,7 @@ dependencies = [
 
 [[package]]
 name = "storage-sqlite"
-version = "0.4.3"
+version = "0.5.0"
 dependencies = [
  "logging",
  "rusqlite",
@@ -7111,7 +7111,7 @@ dependencies = [
 
 [[package]]
 name = "subsystem"
-version = "0.4.3"
+version = "0.5.0"
 dependencies = [
  "async-trait",
  "cfg-if",
@@ -7271,7 +7271,7 @@ checksum = "3369f5ac52d5eb6ab48c6b4ffdc8efbcad6b89c765749064ba298f2c68a16a76"
 
 [[package]]
 name = "test-rpc-functions"
-version = "0.4.3"
+version = "0.5.0"
 dependencies = [
  "async-trait",
  "chainstate",
@@ -7293,7 +7293,7 @@ dependencies = [
 
 [[package]]
 name = "test-utils"
-version = "0.4.3"
+version = "0.5.0"
 dependencies = [
  "common",
  "crypto",
@@ -7453,7 +7453,7 @@ checksum = "1f3ccbac311fea05f86f61904b462b55fb3df8837a366dfc601a0161d0532f20"
 
 [[package]]
 name = "tokens-accounting"
-version = "0.4.3"
+version = "0.5.0"
 dependencies = [
  "accounting",
  "chainstate-types",
@@ -7896,7 +7896,7 @@ checksum = "2c591d83f69777866b9126b24c6dd9a18351f177e49d625920d19f989fd31cf8"
 
 [[package]]
 name = "tx-verifier"
-version = "0.4.3"
+version = "0.5.0"
 dependencies = [
  "accounting",
  "chainstate-storage",
@@ -7924,14 +7924,14 @@ dependencies = [
 
 [[package]]
 name = "typename"
-version = "0.4.3"
+version = "0.5.0"
 dependencies = [
  "typename-derive",
 ]
 
 [[package]]
 name = "typename-derive"
-version = "0.4.3"
+version = "0.5.0"
 dependencies = [
  "itertools 0.12.1",
  "quote",
@@ -8078,7 +8078,7 @@ checksum = "711b9620af191e0cdc7468a8d14e709c3dcdb115b36f838e601583af800a370a"
 
 [[package]]
 name = "utils"
-version = "0.4.3"
+version = "0.5.0"
 dependencies = [
  "anyhow",
  "clap",
@@ -8109,7 +8109,7 @@ dependencies = [
 
 [[package]]
 name = "utils-networking"
-version = "0.4.3"
+version = "0.5.0"
 dependencies = [
  "addr",
  "itertools 0.12.1",
@@ -8123,7 +8123,7 @@ dependencies = [
 
 [[package]]
 name = "utxo"
-version = "0.4.3"
+version = "0.5.0"
 dependencies = [
  "chainstate-types",
  "common",
@@ -8213,7 +8213,7 @@ dependencies = [
 
 [[package]]
 name = "wallet"
-version = "0.4.3"
+version = "0.5.0"
 dependencies = [
  "bip39",
  "chainstate",
@@ -8246,7 +8246,7 @@ dependencies = [
 
 [[package]]
 name = "wallet-address-generator"
-version = "0.4.3"
+version = "0.5.0"
 dependencies = [
  "clap",
  "common",
@@ -8261,7 +8261,7 @@ dependencies = [
 
 [[package]]
 name = "wallet-address-generator-lib"
-version = "0.4.3"
+version = "0.5.0"
 dependencies = [
  "clap",
  "common",
@@ -8275,7 +8275,7 @@ dependencies = [
 
 [[package]]
 name = "wallet-cli"
-version = "0.4.3"
+version = "0.5.0"
 dependencies = [
  "clap",
  "tokio",
@@ -8285,7 +8285,7 @@ dependencies = [
 
 [[package]]
 name = "wallet-cli-commands"
-version = "0.4.3"
+version = "0.5.0"
 dependencies = [
  "async-trait",
  "blockprod",
@@ -8331,7 +8331,7 @@ dependencies = [
 
 [[package]]
 name = "wallet-cli-lib"
-version = "0.4.3"
+version = "0.5.0"
 dependencies = [
  "async-trait",
  "blockprod",
@@ -8378,7 +8378,7 @@ dependencies = [
 
 [[package]]
 name = "wallet-controller"
-version = "0.4.3"
+version = "0.5.0"
 dependencies = [
  "anyhow",
  "async-trait",
@@ -8413,7 +8413,7 @@ dependencies = [
 
 [[package]]
 name = "wallet-rpc-client"
-version = "0.4.3"
+version = "0.5.0"
 dependencies = [
  "async-trait",
  "base64 0.22.1",
@@ -8442,7 +8442,7 @@ dependencies = [
 
 [[package]]
 name = "wallet-rpc-daemon"
-version = "0.4.3"
+version = "0.5.0"
 dependencies = [
  "clap",
  "common",
@@ -8458,7 +8458,7 @@ dependencies = [
 
 [[package]]
 name = "wallet-rpc-lib"
-version = "0.4.3"
+version = "0.5.0"
 dependencies = [
  "anyhow",
  "async-trait",
@@ -8496,7 +8496,7 @@ dependencies = [
 
 [[package]]
 name = "wallet-storage"
-version = "0.4.3"
+version = "0.5.0"
 dependencies = [
  "bip39",
  "common",
@@ -8515,7 +8515,7 @@ dependencies = [
 
 [[package]]
 name = "wallet-test-node"
-version = "0.4.3"
+version = "0.5.0"
 dependencies = [
  "blockprod",
  "chainstate",
@@ -8536,7 +8536,7 @@ dependencies = [
 
 [[package]]
 name = "wallet-types"
-version = "0.4.3"
+version = "0.5.0"
 dependencies = [
  "bip39",
  "common",
@@ -8651,7 +8651,7 @@ checksum = "af190c94f2773fdb3729c55b007a722abb5384da03bc0986df4c289bf5567e96"
 
 [[package]]
 name = "wasm-doc-gen"
-version = "0.4.3"
+version = "0.5.0"
 dependencies = [
  "anyhow",
  "clap",
@@ -8675,7 +8675,7 @@ dependencies = [
 
 [[package]]
 name = "wasm-wrappers"
-version = "0.4.3"
+version = "0.5.0"
 dependencies = [
  "bip39",
  "common",
diff --git a/Cargo.toml b/Cargo.toml
index ad5b112382..b7fc7d11e7 100644
--- a/Cargo.toml
+++ b/Cargo.toml
@@ -5,7 +5,7 @@ homepage = "https://mintlayer.org"
 repository = "https://github.com/mintlayer/mintlayer-core"
 readme = "README.md"
 license = "MIT"
-version = "0.4.3"
+version = "0.5.0"
 authors = ["Samer Afach <samer.afach@mintlayer.org>", "Ben Marsh <benjamin.marsh@mintlayer.org>", "Enrico Rubboli <enrico.rubboli@mintlayer.org>"]
 edition = "2021"
 
@@ -123,7 +123,7 @@ utxo = { path = "utxo" }
 [workspace.package]
 edition = "2021"
 rust-version = "1.75"
-version = "0.4.3"
+version = "0.5.0"
 license = "MIT"
 
 [workspace.dependencies]
diff --git a/README.md b/README.md
index 17a068a730..259a9dd50a 100644
--- a/README.md
+++ b/README.md
@@ -62,16 +62,16 @@ Here are the commands as recommended for different scenarios:
 
 #### Assuming you're using the source code
 
-Every release has a tag and a release branch. Make sure you checkout the release you need. For example, if you need v0.4.3, you should first run the following to check out the release branch:
+Every release has a tag and a release branch. Make sure you checkout the release you need. For example, if you need v0.5.0, you should first run the following to check out the release branch:
 
 ```sh
-git checkout release-v0.4.3
+git checkout release-v0.5.0
 ```
 
 or to checkout the tag:
 
 ```sh
-git checkout tags/v0.4.3
+git checkout tags/v0.5.0
 ```
 
 Release branches are more recommended than tags, because they get necessary security patches, if any. Tags are just markers.
diff --git a/build-tools/docker/BUILD.md b/build-tools/docker/BUILD.md
index b14bbca585..be6cae7d0d 100644
--- a/build-tools/docker/BUILD.md
+++ b/build-tools/docker/BUILD.md
@@ -33,7 +33,7 @@ The result should similar to the following:
 
 ```
 $ docker images |grep mintlayer
-mintlayer/wallet-cli           0.4.3     57dcc4898a30   2 minutes ago   125MB
-mintlayer/node-gui             0.4.3     a2ed3937e081   2 minutes ago   290MB
-mintlayer/node-daemon          0.4.3     ad830bf576e3   3 minutes ago   119MB
+mintlayer/wallet-cli           0.5.0     57dcc4898a30   2 minutes ago   125MB
+mintlayer/node-gui             0.5.0     a2ed3937e081   2 minutes ago   290MB
+mintlayer/node-daemon          0.5.0     ad830bf576e3   3 minutes ago   119MB
 ```
diff --git a/build-tools/docker/example-mainnet-dns-server/.env b/build-tools/docker/example-mainnet-dns-server/.env
index 20ade1b6b2..d5a8b506d8 100644
--- a/build-tools/docker/example-mainnet-dns-server/.env
+++ b/build-tools/docker/example-mainnet-dns-server/.env
@@ -7,7 +7,7 @@ DOCKERHUB_USERNAME=mintlayer
 # The version of mintlayer binaries to use.
 # This will be used together with DOCKERHUB_USERNAME to form full names of docker images
 # (i.e. $DOCKERHUB_USERNAME/image_name:$ML_SOFTWARE_VERSION)
-ML_SOFTWARE_VERSION=0.4.3
+ML_SOFTWARE_VERSION=0.5.0
 
 # The user and group ids that will be used to run the software.
 ML_USER_ID=10001
diff --git a/build-tools/docker/example-mainnet/.env b/build-tools/docker/example-mainnet/.env
index 2d45069afd..929be338f1 100644
--- a/build-tools/docker/example-mainnet/.env
+++ b/build-tools/docker/example-mainnet/.env
@@ -7,7 +7,7 @@ DOCKERHUB_USERNAME=mintlayer
 # The version of mintlayer binaries to use.
 # This will be used together with DOCKERHUB_USERNAME to form full names of docker images
 # (i.e. $DOCKERHUB_USERNAME/image_name:$ML_SOFTWARE_VERSION)
-ML_SOFTWARE_VERSION=0.4.3
+ML_SOFTWARE_VERSION=0.5.0
 
 # The user and group ids that will be used to run the software.
 ML_USER_ID=10001
diff --git a/node-daemon/docs/RPC.md b/node-daemon/docs/RPC.md
index 21e9d70837..f4d063403d 100644
--- a/node-daemon/docs/RPC.md
+++ b/node-daemon/docs/RPC.md
@@ -1,6 +1,6 @@
 # RPC documentation for Mintlayer node
 
-Version `0.4.3`.
+Version `0.5.0`.
 
 ## Module `node`
 
diff --git a/node-daemon/docs/RPC_DEV.md b/node-daemon/docs/RPC_DEV.md
index b98d42affe..b4af9132b2 100644
--- a/node-daemon/docs/RPC_DEV.md
+++ b/node-daemon/docs/RPC_DEV.md
@@ -1,6 +1,6 @@
 # RPC documentation for Mintlayer node developer functions
 
-Version `0.4.3`.
+Version `0.5.0`.
 
 These functions are used for testing and only enabled in regtest.
 
diff --git a/wallet/wallet-rpc-daemon/docs/RPC.md b/wallet/wallet-rpc-daemon/docs/RPC.md
index 6c4ec365f7..1c9dcdd532 100644
--- a/wallet/wallet-rpc-daemon/docs/RPC.md
+++ b/wallet/wallet-rpc-daemon/docs/RPC.md
@@ -1,6 +1,6 @@
 # RPC documentation for Mintlayer node wallet
 
-Version `0.4.3`.
+Version `0.5.0`.
 
 ## Module `WalletRpc`