diff --git a/Cargo.lock b/Cargo.lock
index 4e081bffb..8a23efc4b 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -341,11 +341,11 @@ dependencies = [
 
 [[package]]
 name = "bs58"
-version = "0.3.1"
+version = "0.4.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "476e9cd489f9e121e02ffa6014a8ef220ecb15c05ed23fc34cca13925dc283fb"
+checksum = "771fe0050b883fcc3ea2359b1a96bcfbc090b7116eae7c3c512c7a083fdf23d3"
 dependencies = [
- "sha2 0.8.2",
+ "sha2",
 ]
 
 [[package]]
@@ -831,7 +831,7 @@ dependencies = [
  "hex",
  "rand_core 0.5.1",
  "serde",
- "sha2 0.9.2",
+ "sha2",
  "thiserror",
 ]
 
@@ -845,7 +845,7 @@ dependencies = [
  "hex",
  "rand_core 0.5.1",
  "serde",
- "sha2 0.9.2",
+ "sha2",
  "thiserror",
 ]
 
@@ -888,12 +888,6 @@ dependencies = [
  "once_cell",
 ]
 
-[[package]]
-name = "fake-simd"
-version = "0.1.2"
-source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "e88a8acf291dafb59c2d96e8f59828f3838bb1a70398823ade51a84de6a6deed"
-
 [[package]]
 name = "ff"
 version = "0.8.0"
@@ -2529,18 +2523,6 @@ dependencies = [
  "yaml-rust",
 ]
 
-[[package]]
-name = "sha2"
-version = "0.8.2"
-source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "a256f46ea78a0c0d9ff00077504903ac881a1dafdc20da66545699e7776b3e69"
-dependencies = [
- "block-buffer 0.7.3",
- "digest 0.8.1",
- "fake-simd",
- "opaque-debug 0.2.3",
-]
-
 [[package]]
 name = "sha2"
 version = "0.9.2"
@@ -3375,7 +3357,7 @@ dependencies = [
  "secp256k1",
  "serde",
  "serde-big-array",
- "sha2 0.9.2",
+ "sha2",
  "spandoc",
  "thiserror",
  "tracing",
diff --git a/zebra-chain/Cargo.toml b/zebra-chain/Cargo.toml
index 4c98a71f6..93efc7bc9 100644
--- a/zebra-chain/Cargo.toml
+++ b/zebra-chain/Cargo.toml
@@ -17,7 +17,7 @@ bech32 = "0.7.2"
 bitvec = "0.17.4"
 blake2b_simd = "0.5.11"
 blake2s_simd = "0.5.11"
-bs58 = { version = "0.3", features = ["check"] }
+bs58 = { version = "0.4", features = ["check"] }
 byteorder = "1.3"
 chrono = { version = "0.4", features = ["serde"] }
 futures = "0.3"