diff --git a/Cargo.lock b/Cargo.lock
index f4899ebe120..bf5263d81cc 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -2,6 +2,15 @@
 # It is not intended for manual editing.
 version = 3
 
+[[package]]
+name = "addr2line"
+version = "0.20.0"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "f4fa78e18c64fce05e902adecd7a5eed15a5e0a3439f7b0e169f0252214865e3"
+dependencies = [
+ "gimli",
+]
+
 [[package]]
 name = "adler"
 version = "1.0.2"
@@ -563,6 +572,21 @@ dependencies = [
  "tower-service",
 ]
 
+[[package]]
+name = "backtrace"
+version = "0.3.68"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "4319208da049c43661739c5fade2ba182f09d1dc2299b32298d3a31692b17e12"
+dependencies = [
+ "addr2line",
+ "cc",
+ "cfg-if 1.0.0",
+ "libc",
+ "miniz_oxide",
+ "object",
+ "rustc-demangle",
+]
+
 [[package]]
 name = "base-x"
 version = "0.2.11"
@@ -1894,6 +1918,12 @@ dependencies = [
  "polyval 0.6.0",
 ]
 
+[[package]]
+name = "gimli"
+version = "0.27.3"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "b6c80984affa11d98d1b88b66ac8853f143217b399d3c74116778ff8fdb4ed2e"
+
 [[package]]
 name = "glob"
 version = "0.3.1"
@@ -3757,6 +3787,15 @@ dependencies = [
  "libc",
 ]
 
+[[package]]
+name = "object"
+version = "0.31.1"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "8bda667d9f2b5051b8833f59f3bf748b28ef54f850f4fcb389a252aa383866d1"
+dependencies = [
+ "memchr",
+]
+
 [[package]]
 name = "oid-registry"
 version = "0.4.0"
@@ -4670,6 +4709,12 @@ dependencies = [
  "walkdir",
 ]
 
+[[package]]
+name = "rustc-demangle"
+version = "0.1.23"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "d626bb9dae77e28219937af045c257c28bfd3f69333c512553507f5f9798cb76"
+
 [[package]]
 name = "rustc-hash"
 version = "1.1.0"
@@ -5501,11 +5546,12 @@ checksum = "1f3ccbac311fea05f86f61904b462b55fb3df8837a366dfc601a0161d0532f20"
 
 [[package]]
 name = "tokio"
-version = "1.28.2"
+version = "1.29.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "94d7b1cfd2aa4011f2de74c2c4c63665e27a71006b0a192dcd2710272e73dfa2"
+checksum = "532826ff75199d5833b9d2c5fe410f29235e25704ee5f0ef599fb51c21f4a4da"
 dependencies = [
  "autocfg",
+ "backtrace",
  "bytes",
  "libc",
  "mio",
diff --git a/examples/rendezvous/Cargo.toml b/examples/rendezvous/Cargo.toml
index 591b738c98d..ffbde3fd7dc 100644
--- a/examples/rendezvous/Cargo.toml
+++ b/examples/rendezvous/Cargo.toml
@@ -12,4 +12,4 @@ env_logger = "0.10.0"
 futures = "0.3.28"
 libp2p = { path = "../../libp2p", features = ["async-std", "identify", "macros", "noise", "ping", "rendezvous", "tcp", "tokio", "yamux"] }
 log = "0.4"
-tokio = { version = "1.28", features = [ "rt-multi-thread", "macros", "time" ] }
+tokio = { version = "1.29", features = [ "rt-multi-thread", "macros", "time" ] }
diff --git a/interop-tests/Cargo.toml b/interop-tests/Cargo.toml
index 568bab11edf..b88cd0e7af1 100644
--- a/interop-tests/Cargo.toml
+++ b/interop-tests/Cargo.toml
@@ -28,7 +28,7 @@ redis = { version = "0.23.0", default-features = false, features = ["tokio-comp"
 rust-embed = "6.8"
 serde_json = "1"
 thirtyfour = "=0.32.0-rc.8" # https://github.com/stevepryde/thirtyfour/issues/169
-tokio = { version = "1.28.2", features = ["full"] }
+tokio = { version = "1.29.1", features = ["full"] }
 tower-http = { version = "0.4", features = ["cors", "fs", "trace"] }
 tracing = "0.1"
 tracing-subscriber = { version = "0.3", features = ["env-filter"] }
diff --git a/protocols/mdns/Cargo.toml b/protocols/mdns/Cargo.toml
index cd7e658e418..af1e0180a7c 100644
--- a/protocols/mdns/Cargo.toml
+++ b/protocols/mdns/Cargo.toml
@@ -22,7 +22,7 @@ log = "0.4.19"
 rand = "0.8.3"
 smallvec = "1.6.1"
 socket2 = { version = "0.5.3", features = ["all"] }
-tokio = { version = "1.28", default-features = false, features = ["net", "time"], optional = true}
+tokio = { version = "1.29", default-features = false, features = ["net", "time"], optional = true}
 trust-dns-proto = { version = "0.22.0", default-features = false, features = ["mdns", "tokio-runtime"] }
 void = "1.0.2"
 
@@ -37,7 +37,7 @@ libp2p-noise = { workspace = true }
 libp2p-swarm = { workspace = true, features = ["tokio", "async-std"] }
 libp2p-tcp = { workspace = true, features = ["tokio", "async-io"] }
 libp2p-yamux = { workspace = true }
-tokio = { version = "1.28", default-features = false, features = ["macros", "rt", "rt-multi-thread", "time"] }
+tokio = { version = "1.29", default-features = false, features = ["macros", "rt", "rt-multi-thread", "time"] }
 libp2p-swarm-test = { path = "../../swarm-test" }
 
 [[test]]
diff --git a/protocols/perf/Cargo.toml b/protocols/perf/Cargo.toml
index 092e414b9e8..943ba3e6335 100644
--- a/protocols/perf/Cargo.toml
+++ b/protocols/perf/Cargo.toml
@@ -30,7 +30,7 @@ log = "0.4"
 serde = { version = "1.0", features = ["derive"] }
 serde_json = "1.0"
 thiserror = "1.0"
-tokio = { version = "1.28.2", features = ["full"] }
+tokio = { version = "1.29.1", features = ["full"] }
 void = "1"
 
 [dev-dependencies]
diff --git a/protocols/rendezvous/Cargo.toml b/protocols/rendezvous/Cargo.toml
index 8b973ad020e..b24781dcd74 100644
--- a/protocols/rendezvous/Cargo.toml
+++ b/protocols/rendezvous/Cargo.toml
@@ -37,7 +37,7 @@ libp2p-identify = { workspace = true }
 libp2p-yamux = { workspace = true }
 libp2p-tcp = { workspace = true, features = ["tokio"] }
 rand = "0.8"
-tokio = { version = "1.28", features = [ "rt-multi-thread", "time", "macros", "sync", "process", "fs", "net" ] }
+tokio = { version = "1.29", features = [ "rt-multi-thread", "time", "macros", "sync", "process", "fs", "net" ] }
 libp2p-swarm-test = { path = "../../swarm-test" }
 
 # Passing arguments to the docsrs builder in order to properly document cfg's.
diff --git a/swarm/Cargo.toml b/swarm/Cargo.toml
index e1f8f2513f9..7ffe24400b5 100644
--- a/swarm/Cargo.toml
+++ b/swarm/Cargo.toml
@@ -30,7 +30,7 @@ multistream-select = { workspace = true }
 
 [target.'cfg(not(any(target_os = "emscripten", target_os = "wasi", target_os = "unknown")))'.dependencies]
 async-std = { version = "1.6.2", optional = true }
-tokio = { version = "1.28", features = ["rt"], optional = true }
+tokio = { version = "1.29", features = ["rt"], optional = true }
 
 [features]
 macros = ["dep:libp2p-swarm-derive"]
diff --git a/transports/pnet/Cargo.toml b/transports/pnet/Cargo.toml
index 90365217be2..b74c4ef29a7 100644
--- a/transports/pnet/Cargo.toml
+++ b/transports/pnet/Cargo.toml
@@ -27,7 +27,7 @@ libp2p-tcp = { workspace = true, features = ["tokio"] }
 libp2p-websocket = { workspace = true }
 libp2p-yamux = { workspace = true }
 quickcheck = { workspace = true }
-tokio = { version = "1.28.2", features = ["full"] }
+tokio = { version = "1.29.1", features = ["full"] }
 
 # Passing arguments to the docsrs builder in order to properly document cfg's. 
 # More information: https://docs.rs/about/builds#cross-compiling
diff --git a/transports/quic/Cargo.toml b/transports/quic/Cargo.toml
index 2655b34e83a..6c531ec30bd 100644
--- a/transports/quic/Cargo.toml
+++ b/transports/quic/Cargo.toml
@@ -23,7 +23,7 @@ quinn-proto = { version = "0.10.1", default-features = false, features = ["tls-r
 rand = "0.8.5"
 rustls = { version = "0.21.2", default-features = false }
 thiserror = "1.0.40"
-tokio = { version = "1.28.2", default-features = false, features = ["net", "rt", "time"], optional = true }
+tokio = { version = "1.29.1", default-features = false, features = ["net", "rt", "time"], optional = true }
 
 [features]
 tokio = ["dep:tokio", "if-watch/tokio"]
@@ -44,7 +44,7 @@ libp2p-noise = { workspace = true }
 libp2p-tcp = { workspace = true, features = ["async-io"] }
 libp2p-yamux = { workspace = true }
 quickcheck = "1"
-tokio = { version = "1.28.2", features = ["macros", "rt-multi-thread", "time"] }
+tokio = { version = "1.29.1", features = ["macros", "rt-multi-thread", "time"] }
 
 [[test]]
 name = "stream_compliance"
diff --git a/transports/tcp/Cargo.toml b/transports/tcp/Cargo.toml
index 55490b5859d..aaf409169dc 100644
--- a/transports/tcp/Cargo.toml
+++ b/transports/tcp/Cargo.toml
@@ -20,7 +20,7 @@ libp2p-core = { workspace = true }
 libp2p-identity = { workspace = true }
 log = "0.4.19"
 socket2 = { version = "0.5.3", features = ["all"] }
-tokio = { version = "1.28.2", default-features = false, features = ["net"], optional = true }
+tokio = { version = "1.29.1", default-features = false, features = ["net"], optional = true }
 
 [features]
 tokio = ["dep:tokio", "if-watch/tokio"]
@@ -28,7 +28,7 @@ async-io = ["dep:async-io", "if-watch/smol"]
 
 [dev-dependencies]
 async-std = { version = "1.6.5", features = ["attributes"] }
-tokio = { version = "1.28.2", default-features = false, features = ["full"] }
+tokio = { version = "1.29.1", default-features = false, features = ["full"] }
 env_logger = "0.10.0"
 
 # Passing arguments to the docsrs builder in order to properly document cfg's.
diff --git a/transports/tls/Cargo.toml b/transports/tls/Cargo.toml
index 731fd7508ef..c7a03afcedf 100644
--- a/transports/tls/Cargo.toml
+++ b/transports/tls/Cargo.toml
@@ -33,7 +33,7 @@ libp2p-core = { workspace = true }
 libp2p-identity = { workspace = true, features = ["ed25519", "rsa", "secp256k1", "ecdsa"] }
 libp2p-swarm = { workspace = true }
 libp2p-yamux = { workspace = true }
-tokio = { version = "1.28.2", features = ["full"] }
+tokio = { version = "1.29.1", features = ["full"] }
 
 # Passing arguments to the docsrs builder in order to properly document cfg's.
 # More information: https://docs.rs/about/builds#cross-compiling
diff --git a/transports/uds/Cargo.toml b/transports/uds/Cargo.toml
index 1b33ba65aff..66c412430ad 100644
--- a/transports/uds/Cargo.toml
+++ b/transports/uds/Cargo.toml
@@ -15,7 +15,7 @@ async-std = { version = "1.6.2", optional = true }
 libp2p-core = { workspace = true }
 log = "0.4.19"
 futures = "0.3.28"
-tokio = { version = "1.28", default-features = false, features = ["net"], optional = true }
+tokio = { version = "1.29", default-features = false, features = ["net"], optional = true }
 
 [dev-dependencies]
 tempfile = "3.5"
diff --git a/transports/webrtc/Cargo.toml b/transports/webrtc/Cargo.toml
index 03098a4ac54..60ac73f4441 100644
--- a/transports/webrtc/Cargo.toml
+++ b/transports/webrtc/Cargo.toml
@@ -32,7 +32,7 @@ serde = { version = "1.0", features = ["derive"] }
 stun = "0.4"
 thiserror = "1"
 tinytemplate = "1.2"
-tokio = { version = "1.28", features = ["net"], optional = true}
+tokio = { version = "1.29", features = ["net"], optional = true}
 tokio-util = { version = "0.7", features = ["compat"], optional = true }
 webrtc = { version = "0.8.0", optional = true }
 
@@ -46,7 +46,7 @@ env_logger = "0.10"
 hex-literal = "0.4"
 libp2p-swarm = { workspace = true, features = ["macros", "tokio"] }
 libp2p-ping = { workspace = true }
-tokio = { version = "1.28", features = ["full"] }
+tokio = { version = "1.29", features = ["full"] }
 unsigned-varint = { version = "0.7", features = ["asynchronous_codec"] }
 void = "1"
 quickcheck = "1.0.3"