diff --git a/.changelog/unreleased/improvements/938-add-from.md b/.changelog/unreleased/improvements/938-add-from.md
deleted file mode 100644
index 439e48b6c..000000000
--- a/.changelog/unreleased/improvements/938-add-from.md
+++ /dev/null
@@ -1,2 +0,0 @@
-- Add From implementation for ICS26 enum types to make it simpler
-  to construct the types.  ([\#938](https://github.com/cosmos/ibc-rs/pull/938))
diff --git a/.changelog/unreleased/improvements/939-less-alloc.md b/.changelog/unreleased/improvements/939-less-alloc.md
deleted file mode 100644
index b7ed133f9..000000000
--- a/.changelog/unreleased/improvements/939-less-alloc.md
+++ /dev/null
@@ -1,2 +0,0 @@
-- Reduce vector allocations in Commitment computation. 
-  ([\#939](https://github.com/cosmos/ibc-rs/pull/939))
diff --git a/.changelog/unreleased/breaking-changes/716-move-transfer-app-and-tendermint-client-to-separate-crate.md b/.changelog/v0.48.0/breaking-changes/716-move-transfer-app-and-tendermint-client-to-separate-crate.md
similarity index 100%
rename from .changelog/unreleased/breaking-changes/716-move-transfer-app-and-tendermint-client-to-separate-crate.md
rename to .changelog/v0.48.0/breaking-changes/716-move-transfer-app-and-tendermint-client-to-separate-crate.md
diff --git a/.changelog/unreleased/breaking-changes/949-bump-ibc-proto-rs-to-v0380.md b/.changelog/v0.48.0/breaking-changes/949-bump-ibc-proto-rs-to-v0380.md
similarity index 100%
rename from .changelog/unreleased/breaking-changes/949-bump-ibc-proto-rs-to-v0380.md
rename to .changelog/v0.48.0/breaking-changes/949-bump-ibc-proto-rs-to-v0380.md
diff --git a/.changelog/unreleased/breaking-changes/956-bump-MSRV-to-1-64.md b/.changelog/v0.48.0/breaking-changes/956-bump-MSRV-to-1-64.md
similarity index 100%
rename from .changelog/unreleased/breaking-changes/956-bump-MSRV-to-1-64.md
rename to .changelog/v0.48.0/breaking-changes/956-bump-MSRV-to-1-64.md
diff --git a/.changelog/unreleased/breaking-changes/965-restructure-ibc.md b/.changelog/v0.48.0/breaking-changes/965-restructure-ibc.md
similarity index 100%
rename from .changelog/unreleased/breaking-changes/965-restructure-ibc.md
rename to .changelog/v0.48.0/breaking-changes/965-restructure-ibc.md
diff --git a/.changelog/unreleased/features/954-restructure-mock-module-into-crate.md b/.changelog/v0.48.0/features/954-restructure-mock-module-into-crate.md
similarity index 100%
rename from .changelog/unreleased/features/954-restructure-mock-module-into-crate.md
rename to .changelog/v0.48.0/features/954-restructure-mock-module-into-crate.md
diff --git a/.changelog/unreleased/features/974-id-into-string.md b/.changelog/v0.48.0/features/974-id-into-string.md
similarity index 100%
rename from .changelog/unreleased/features/974-id-into-string.md
rename to .changelog/v0.48.0/features/974-id-into-string.md
diff --git a/.changelog/unreleased/improvements/697-re-export-essential-proto-types.md b/.changelog/v0.48.0/improvements/697-re-export-essential-proto-types.md
similarity index 100%
rename from .changelog/unreleased/improvements/697-re-export-essential-proto-types.md
rename to .changelog/v0.48.0/improvements/697-re-export-essential-proto-types.md
diff --git a/.changelog/unreleased/improvements/771-use-mod-rs-places-having-submodules.md b/.changelog/v0.48.0/improvements/771-use-mod-rs-places-having-submodules.md
similarity index 100%
rename from .changelog/unreleased/improvements/771-use-mod-rs-places-having-submodules.md
rename to .changelog/v0.48.0/improvements/771-use-mod-rs-places-having-submodules.md
diff --git a/.changelog/v0.48.0/improvements/938-add-from.md b/.changelog/v0.48.0/improvements/938-add-from.md
new file mode 100644
index 000000000..6c8b48a9c
--- /dev/null
+++ b/.changelog/v0.48.0/improvements/938-add-from.md
@@ -0,0 +1,2 @@
+- Add From implementation for ICS26 enum types to make it simpler to construct
+  the types. ([\#938](https://github.com/cosmos/ibc-rs/pull/938))
diff --git a/.changelog/v0.48.0/improvements/939-less-alloc.md b/.changelog/v0.48.0/improvements/939-less-alloc.md
new file mode 100644
index 000000000..f468106a7
--- /dev/null
+++ b/.changelog/v0.48.0/improvements/939-less-alloc.md
@@ -0,0 +1,2 @@
+- Reduce vector allocations in Commitment computation.
+  ([\#939](https://github.com/cosmos/ibc-rs/pull/939))
diff --git a/.changelog/unreleased/bug-fixes/940-chain-identifiers-without-revision-number-pattern.md b/.changelog/v0.48.0/improvements/940-chain-identifiers-without-revision-number-pattern.md
similarity index 100%
rename from .changelog/unreleased/bug-fixes/940-chain-identifiers-without-revision-number-pattern.md
rename to .changelog/v0.48.0/improvements/940-chain-identifiers-without-revision-number-pattern.md
diff --git a/.changelog/unreleased/bug-fixes/943-optimize-validate-prefix-length.md b/.changelog/v0.48.0/improvements/943-optimize-validate-prefix-length.md
similarity index 100%
rename from .changelog/unreleased/bug-fixes/943-optimize-validate-prefix-length.md
rename to .changelog/v0.48.0/improvements/943-optimize-validate-prefix-length.md
diff --git a/.changelog/unreleased/improvements/948-remove-redundant-test-log-deps.md b/.changelog/v0.48.0/improvements/948-remove-redundant-test-log-deps.md
similarity index 100%
rename from .changelog/unreleased/improvements/948-remove-redundant-test-log-deps.md
rename to .changelog/v0.48.0/improvements/948-remove-redundant-test-log-deps.md
diff --git a/.changelog/unreleased/improvements/951-remove-default-portid.md b/.changelog/v0.48.0/improvements/951-remove-default-portid.md
similarity index 100%
rename from .changelog/unreleased/improvements/951-remove-default-portid.md
rename to .changelog/v0.48.0/improvements/951-remove-default-portid.md
diff --git a/.changelog/unreleased/improvements/952-expose-channel-message-types.md b/.changelog/v0.48.0/improvements/952-expose-channel-message-types.md
similarity index 100%
rename from .changelog/unreleased/improvements/952-expose-channel-message-types.md
rename to .changelog/v0.48.0/improvements/952-expose-channel-message-types.md
diff --git a/.changelog/unreleased/improvements/955-use-workspace-dependencies.md b/.changelog/v0.48.0/improvements/955-use-workspace-dependencies.md
similarity index 100%
rename from .changelog/unreleased/improvements/955-use-workspace-dependencies.md
rename to .changelog/v0.48.0/improvements/955-use-workspace-dependencies.md
diff --git a/.changelog/unreleased/breaking-changes/961-refactor-identifier-validation.md b/.changelog/v0.48.0/improvements/961-refactor-identifier-validation.md
similarity index 100%
rename from .changelog/unreleased/breaking-changes/961-refactor-identifier-validation.md
rename to .changelog/v0.48.0/improvements/961-refactor-identifier-validation.md
diff --git a/.changelog/unreleased/improvements/970-reduce-heap-allocation.md b/.changelog/v0.48.0/improvements/970-reduce-heap-allocation.md
similarity index 100%
rename from .changelog/unreleased/improvements/970-reduce-heap-allocation.md
rename to .changelog/v0.48.0/improvements/970-reduce-heap-allocation.md
diff --git a/.changelog/unreleased/improvements/976-expose-different-types-for-public-access.md b/.changelog/v0.48.0/improvements/976-expose-different-types-for-public-access.md
similarity index 100%
rename from .changelog/unreleased/improvements/976-expose-different-types-for-public-access.md
rename to .changelog/v0.48.0/improvements/976-expose-different-types-for-public-access.md
diff --git a/.changelog/v0.48.0/summary.md b/.changelog/v0.48.0/summary.md
new file mode 100644
index 000000000..86454e131
--- /dev/null
+++ b/.changelog/v0.48.0/summary.md
@@ -0,0 +1,20 @@
+In this release, we've undertaken a comprehensive overhaul of the **`ibc-rs`**
+repository, resulting in a strategic reorganization of the codebase. This
+restructuring dissects the implementation of each IBC specification,
+categorizing and situating them within relevant libraries. The primary objective
+is to elevate `ibc-rs` practicality and enhance user flexibility by providing a
+more modular and composable experience.
+
+Users now have the flexibility to choose from a spectrum of dependencies. They
+can opt to utilize the entire suite of meta-crates, such as `ibc`, `ibc-core`,
+`ibc-clients`, or `ibc-apps`. Alternatively, they can exercise fine-grained
+control by selectively importing specific crates. This can involve bringing in
+an entire implemented IBC sub-module, like the `ibc-core-client` crate, or
+importing only the associated data structures of a module, such as the
+`ibc-core-client-types` crate.
+
+Furthermore, this release introduces optimizations centered around construction
+and validation of ICS-24 host identifiers, aiming to curtail some heap
+allocations, beneficial for resource-constrained hosts.
+
+There are no consensus-breaking changes.
diff --git a/CHANGELOG.md b/CHANGELOG.md
index 4b78e0da0..005143b9e 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,88 @@
 # CHANGELOG
 
+## v0.48.0
+
+*November 22, 2023*
+
+In this release, we've undertaken a comprehensive overhaul of the **`ibc-rs`**
+repository, resulting in a strategic reorganization of the codebase. This
+restructuring dissects the implementation of each IBC specification,
+categorizing and situating them within relevant libraries. The primary objective
+is to elevate `ibc-rs` practicality and enhance user flexibility by providing a
+more modular and composable experience.
+
+Users now have the flexibility to choose from a spectrum of dependencies. They
+can opt to utilize the entire suite of meta-crates, such as `ibc`, `ibc-core`,
+`ibc-clients`, or `ibc-apps`. Alternatively, they can exercise fine-grained
+control by selectively importing specific crates. This can involve bringing in
+an entire implemented IBC sub-module, like the `ibc-core-client` crate, or
+importing only the associated data structures of a module, such as the
+`ibc-core-client-types` crate.
+
+Furthermore, this release introduces optimizations centered around construction
+and validation of ICS-24 host identifiers, aiming to curtail some heap
+allocations, beneficial for resource-constrained hosts.
+
+There are no consensus-breaking changes.
+
+### BREAKING CHANGES
+
+- Move ICS-20 and ICS-27 implementations to the respective part of `ibc-apps`
+  and `ibc-clients` crates, as part of the `ibc` crate restructuring effort.
+  ([\#716](https://github.com/cosmos/ibc-rs/issues/716))
+- Bump `ibc-proto-rs` to v0.38.0
+  ([\#949](https://github.com/cosmos/ibc-rs/issues/949))
+- Bump minimum supported Rust version to 1.64
+  ([\#956](https://github.com/cosmos/ibc-rs/issues/956))
+- Restructure `ibc-rs` codebase by organizing it into smaller self-contained,
+  modular libraries, enabling the selective import of specific domain types or
+  module implementations, either individually or in combination, providing
+  enhanced flexibility and ease of use.
+  ([\#965](https://github.com/cosmos/ibc-rs/issues/965))
+
+### FEATURES
+
+- Restructure the mock module implementation and separate its codebase into a
+  new crate named `ibc-testkit`
+  ([\#954](https://github.com/cosmos/ibc-rs/issues/953))
+- Provide `Into<String>` for all identifiers types.
+  ([\#974](https://github.com/cosmos/ibc-rs/pull/974))
+
+### IMPROVEMENTS
+
+- Re-export essential proto types from the underlying `ibc-*-*-types` crates,
+  removing the necessity for a direct dependency on `ibc-proto` in projects
+  integrating `ibc-rs` ([\#697](https://github.com/cosmos/ibc-rs/issues/697))
+- Rename `{submodule}.rs` with corresponding `{submodule}` directory to
+  `{submodule}/mod.rs` ([\#771](https://github.com/cosmos/ibc-rs/issues/771))
+- Add From implementation for ICS26 enum types to make it simpler to construct
+  the types. ([\#938](https://github.com/cosmos/ibc-rs/pull/938))
+- Reduce vector allocations in Commitment computation.
+  ([\#939](https://github.com/cosmos/ibc-rs/pull/939))
+- Support chain identifiers without the `{chain_name}-{revision_number}` pattern
+  of Tendermint chains. ([\#940](https://github.com/cosmos/ibc-rs/issues/940)).
+- Remove redundant `String` creation in `validate_prefix_length`
+  ([\#943](https://github.com/cosmos/ibc-rs/issues/943)).
+- Remove redundant `#[test_log::test]` attributes in test modules
+  ([\#948](https://github.com/cosmos/ibc-rs/issues/948))
+- Remove the default value and implementation for `PortId`
+  ([\#951](https://github.com/cosmos/ibc-rs/issues/951))
+- Expose domain message types under the `ics04_channel` as public
+  ([\#952](https://github.com/cosmos/ibc-rs/issues/952))
+- Enhance dependency management with workspace inheritance
+  ([\#955](https://github.com/cosmos/ibc-rs/issues/955))
+- Simplify and refactor ICS-24 identifier validation logic.
+  ([\#961](https://github.com/cosmos/ibc-rs/issues/961))
+- Reduce heap allocation by using `str` instead of `String` places we convert
+  domain event attributes to the ABCI event attributes
+  ([\#970](https://github.com/cosmos/ibc-rs/issues/970))
+- Expose various fields, types and functions in `ibc-rs` as public including:
+  - `validate` and `execute` handler functions for all the IBC message types.
+  - `TYPE_URL` constants.
+  - Any private fields within the domain message types.
+  - Any private fields within the Tendermint `ClientState` and `ConsensusState`
+  ([\#976](https://github.com/cosmos/ibc-rs/issues/976))
+
 ## v0.47.0
 
 *October 19, 2023*
diff --git a/Cargo.toml b/Cargo.toml
index b64e02926..4f3384533 100644
--- a/Cargo.toml
+++ b/Cargo.toml
@@ -35,7 +35,7 @@ exclude = [
 ]
 
 [workspace.package]
-version      = "0.47.0"
+version      = "0.48.0"
 license      = "Apache-2.0"
 edition      = "2021"
 rust-version = "1.64"
@@ -61,34 +61,34 @@ subtle-encoding     = { version = "0.5", default-features = false }
 time                = { version = ">=0.3.0, <0.3.31", default-features = false }
 
 # ibc dependencies
-ibc                 = { version = "0.47.0", path = "./ibc", default-features = false }
-ibc-core            = { version = "0.47.0", path = "./ibc-core", default-features = false }
-ibc-clients         = { version = "0.47.0", path = "./ibc-clients", default-features = false }
-ibc-apps            = { version = "0.47.0", path = "./ibc-apps", default-features = false }
-ibc-primitives      = { version = "0.47.0", path = "./ibc-primitives", default-features = false }
-ibc-testkit         = { version = "0.47.0", path = "./ibc-testkit" }
-ibc-derive          = { version = "0.3.0", path = "./ibc-derive" }
+ibc                 = { version = "0.48.0", path = "./ibc", default-features = false }
+ibc-core            = { version = "0.48.0", path = "./ibc-core", default-features = false }
+ibc-clients         = { version = "0.48.0", path = "./ibc-clients", default-features = false }
+ibc-apps            = { version = "0.48.0", path = "./ibc-apps", default-features = false }
+ibc-primitives      = { version = "0.48.0", path = "./ibc-primitives", default-features = false }
+ibc-testkit         = { version = "0.48.0", path = "./ibc-testkit" }
+ibc-derive          = { version = "0.4.0", path = "./ibc-derive" }
 
-ibc-core-client       = { version = "0.47.0", path = "./ibc-core/ics02-client", default-features = false }
-ibc-core-connection   = { version = "0.47.0", path = "./ibc-core/ics03-connection", default-features = false }
-ibc-core-channel      = { version = "0.47.0", path = "./ibc-core/ics04-channel", default-features = false }
-ibc-core-host         = { version = "0.47.0", path = "./ibc-core/ics24-host", default-features = false }
-ibc-core-handler      = { version = "0.47.0", path = "./ibc-core/ics25-handler", default-features = false }
-ibc-core-router       = { version = "0.47.0", path = "./ibc-core/ics26-routing", default-features = false }
-ibc-client-tendermint = { version = "0.47.0", path = "./ibc-clients/ics07-tendermint", default-features = false }
-ibc-app-transfer      = { version = "0.47.0", path = "./ibc-apps/ics20-transfer", default-features = false }
+ibc-core-client       = { version = "0.48.0", path = "./ibc-core/ics02-client", default-features = false }
+ibc-core-connection   = { version = "0.48.0", path = "./ibc-core/ics03-connection", default-features = false }
+ibc-core-channel      = { version = "0.48.0", path = "./ibc-core/ics04-channel", default-features = false }
+ibc-core-host         = { version = "0.48.0", path = "./ibc-core/ics24-host", default-features = false }
+ibc-core-handler      = { version = "0.48.0", path = "./ibc-core/ics25-handler", default-features = false }
+ibc-core-router       = { version = "0.48.0", path = "./ibc-core/ics26-routing", default-features = false }
+ibc-client-tendermint = { version = "0.48.0", path = "./ibc-clients/ics07-tendermint", default-features = false }
+ibc-app-transfer      = { version = "0.48.0", path = "./ibc-apps/ics20-transfer", default-features = false }
 
-ibc-core-client-context     = { version = "0.47.0", path = "./ibc-core/ics02-client/context", default-features = false }
-ibc-core-client-types       = { version = "0.47.0", path = "./ibc-core/ics02-client/types", default-features = false }
-ibc-core-channel-types      = { version = "0.47.0", path = "./ibc-core/ics04-channel/types", default-features = false }
-ibc-core-connection-types   = { version = "0.47.0", path = "./ibc-core/ics03-connection/types", default-features = false }
-ibc-core-commitment-types   = { version = "0.47.0", path = "./ibc-core/ics23-commitment/types", default-features = false }
-ibc-core-host-cosmos        = { version = "0.47.0", path = "./ibc-core/ics24-host/cosmos", default-features = false }
-ibc-core-host-types         = { version = "0.47.0", path = "./ibc-core/ics24-host/types", default-features = false }
-ibc-core-handler-types      = { version = "0.47.0", path = "./ibc-core/ics25-handler/types", default-features = false }
-ibc-core-router-types       = { version = "0.47.0", path = "./ibc-core/ics26-routing/types", default-features = false }
-ibc-client-tendermint-types = { version = "0.47.0", path = "./ibc-clients/ics07-tendermint/types", default-features = false }
-ibc-app-transfer-types      = { version = "0.47.0", path = "./ibc-apps/ics20-transfer/types", default-features = false }
+ibc-core-client-context     = { version = "0.48.0", path = "./ibc-core/ics02-client/context", default-features = false }
+ibc-core-client-types       = { version = "0.48.0", path = "./ibc-core/ics02-client/types", default-features = false }
+ibc-core-channel-types      = { version = "0.48.0", path = "./ibc-core/ics04-channel/types", default-features = false }
+ibc-core-connection-types   = { version = "0.48.0", path = "./ibc-core/ics03-connection/types", default-features = false }
+ibc-core-commitment-types   = { version = "0.48.0", path = "./ibc-core/ics23-commitment/types", default-features = false }
+ibc-core-host-cosmos        = { version = "0.48.0", path = "./ibc-core/ics24-host/cosmos", default-features = false }
+ibc-core-host-types         = { version = "0.48.0", path = "./ibc-core/ics24-host/types", default-features = false }
+ibc-core-handler-types      = { version = "0.48.0", path = "./ibc-core/ics25-handler/types", default-features = false }
+ibc-core-router-types       = { version = "0.48.0", path = "./ibc-core/ics26-routing/types", default-features = false }
+ibc-client-tendermint-types = { version = "0.48.0", path = "./ibc-clients/ics07-tendermint/types", default-features = false }
+ibc-app-transfer-types      = { version = "0.48.0", path = "./ibc-apps/ics20-transfer/types", default-features = false }
 
 ibc-proto = { version = "0.38.0", default-features = false }
 ics23     = { version = "0.11", default-features = false }
diff --git a/ci/cw-check/Cargo.lock b/ci/cw-check/Cargo.lock
index d2c236984..0f3cc0f4f 100644
--- a/ci/cw-check/Cargo.lock
+++ b/ci/cw-check/Cargo.lock
@@ -613,7 +613,7 @@ dependencies = [
 
 [[package]]
 name = "ibc"
-version = "0.47.0"
+version = "0.48.0"
 dependencies = [
  "ibc-apps",
  "ibc-clients",
@@ -625,7 +625,7 @@ dependencies = [
 
 [[package]]
 name = "ibc-app-transfer"
-version = "0.47.0"
+version = "0.48.0"
 dependencies = [
  "ibc-app-transfer-types",
  "ibc-core",
@@ -634,7 +634,7 @@ dependencies = [
 
 [[package]]
 name = "ibc-app-transfer-types"
-version = "0.47.0"
+version = "0.48.0"
 dependencies = [
  "derive_more",
  "displaydoc",
@@ -649,14 +649,14 @@ dependencies = [
 
 [[package]]
 name = "ibc-apps"
-version = "0.47.0"
+version = "0.48.0"
 dependencies = [
  "ibc-app-transfer",
 ]
 
 [[package]]
 name = "ibc-client-tendermint"
-version = "0.47.0"
+version = "0.48.0"
 dependencies = [
  "ibc-client-tendermint-types",
  "ibc-core-client",
@@ -672,7 +672,7 @@ dependencies = [
 
 [[package]]
 name = "ibc-client-tendermint-types"
-version = "0.47.0"
+version = "0.48.0"
 dependencies = [
  "bytes",
  "displaydoc",
@@ -694,14 +694,14 @@ dependencies = [
 
 [[package]]
 name = "ibc-clients"
-version = "0.47.0"
+version = "0.48.0"
 dependencies = [
  "ibc-client-tendermint",
 ]
 
 [[package]]
 name = "ibc-core"
-version = "0.47.0"
+version = "0.48.0"
 dependencies = [
  "ibc-core-channel",
  "ibc-core-client",
@@ -715,7 +715,7 @@ dependencies = [
 
 [[package]]
 name = "ibc-core-channel"
-version = "0.47.0"
+version = "0.48.0"
 dependencies = [
  "ibc-core-channel-types",
  "ibc-core-client",
@@ -730,7 +730,7 @@ dependencies = [
 
 [[package]]
 name = "ibc-core-channel-types"
-version = "0.47.0"
+version = "0.48.0"
 dependencies = [
  "derive_more",
  "displaydoc",
@@ -751,7 +751,7 @@ dependencies = [
 
 [[package]]
 name = "ibc-core-client"
-version = "0.47.0"
+version = "0.48.0"
 dependencies = [
  "ibc-core-client-context",
  "ibc-core-client-types",
@@ -764,7 +764,7 @@ dependencies = [
 
 [[package]]
 name = "ibc-core-client-context"
-version = "0.47.0"
+version = "0.48.0"
 dependencies = [
  "derive_more",
  "displaydoc",
@@ -781,7 +781,7 @@ dependencies = [
 
 [[package]]
 name = "ibc-core-client-types"
-version = "0.47.0"
+version = "0.48.0"
 dependencies = [
  "derive_more",
  "displaydoc",
@@ -799,7 +799,7 @@ dependencies = [
 
 [[package]]
 name = "ibc-core-commitment-types"
-version = "0.47.0"
+version = "0.48.0"
 dependencies = [
  "derive_more",
  "displaydoc",
@@ -815,7 +815,7 @@ dependencies = [
 
 [[package]]
 name = "ibc-core-connection"
-version = "0.47.0"
+version = "0.48.0"
 dependencies = [
  "ibc-core-client",
  "ibc-core-connection-types",
@@ -827,7 +827,7 @@ dependencies = [
 
 [[package]]
 name = "ibc-core-connection-types"
-version = "0.47.0"
+version = "0.48.0"
 dependencies = [
  "derive_more",
  "displaydoc",
@@ -846,7 +846,7 @@ dependencies = [
 
 [[package]]
 name = "ibc-core-handler"
-version = "0.47.0"
+version = "0.48.0"
 dependencies = [
  "ibc-core-channel",
  "ibc-core-client",
@@ -860,7 +860,7 @@ dependencies = [
 
 [[package]]
 name = "ibc-core-handler-types"
-version = "0.47.0"
+version = "0.48.0"
 dependencies = [
  "derive_more",
  "displaydoc",
@@ -882,7 +882,7 @@ dependencies = [
 
 [[package]]
 name = "ibc-core-host"
-version = "0.47.0"
+version = "0.48.0"
 dependencies = [
  "derive_more",
  "displaydoc",
@@ -900,7 +900,7 @@ dependencies = [
 
 [[package]]
 name = "ibc-core-host-cosmos"
-version = "0.47.0"
+version = "0.48.0"
 dependencies = [
  "derive_more",
  "displaydoc",
@@ -925,7 +925,7 @@ dependencies = [
 
 [[package]]
 name = "ibc-core-host-types"
-version = "0.47.0"
+version = "0.48.0"
 dependencies = [
  "derive_more",
  "displaydoc",
@@ -937,7 +937,7 @@ dependencies = [
 
 [[package]]
 name = "ibc-core-router"
-version = "0.47.0"
+version = "0.48.0"
 dependencies = [
  "derive_more",
  "displaydoc",
@@ -951,7 +951,7 @@ dependencies = [
 
 [[package]]
 name = "ibc-core-router-types"
-version = "0.47.0"
+version = "0.48.0"
 dependencies = [
  "derive_more",
  "displaydoc",
@@ -969,7 +969,7 @@ dependencies = [
 
 [[package]]
 name = "ibc-derive"
-version = "0.3.0"
+version = "0.4.0"
 dependencies = [
  "darling",
  "proc-macro2",
@@ -979,7 +979,7 @@ dependencies = [
 
 [[package]]
 name = "ibc-primitives"
-version = "0.47.0"
+version = "0.48.0"
 dependencies = [
  "derive_more",
  "displaydoc",
diff --git a/ci/no-std-check/Cargo.lock b/ci/no-std-check/Cargo.lock
index e902341ed..08ed7b9de 100644
--- a/ci/no-std-check/Cargo.lock
+++ b/ci/no-std-check/Cargo.lock
@@ -1213,41 +1213,28 @@ dependencies = [
 
 [[package]]
 name = "ibc"
-version = "0.47.0"
+version = "0.48.0"
 dependencies = [
- "bytes",
- "derive_more",
- "displaydoc",
  "ibc-apps",
  "ibc-clients",
  "ibc-core",
+ "ibc-core-host-cosmos",
  "ibc-derive",
  "ibc-primitives",
- "ibc-proto",
- "prost",
- "serde",
- "serde-json-wasm",
- "sha2 0.10.8",
- "subtle-encoding",
- "tendermint",
- "tendermint-light-client-verifier",
- "tendermint-proto",
- "time",
 ]
 
 [[package]]
 name = "ibc-app-transfer"
-version = "0.47.0"
+version = "0.48.0"
 dependencies = [
  "ibc-app-transfer-types",
  "ibc-core",
  "serde-json-wasm",
- "sha2 0.10.8",
 ]
 
 [[package]]
 name = "ibc-app-transfer-types"
-version = "0.47.0"
+version = "0.48.0"
 dependencies = [
  "derive_more",
  "displaydoc",
@@ -1260,14 +1247,14 @@ dependencies = [
 
 [[package]]
 name = "ibc-apps"
-version = "0.47.0"
+version = "0.48.0"
 dependencies = [
  "ibc-app-transfer",
 ]
 
 [[package]]
 name = "ibc-client-tendermint"
-version = "0.47.0"
+version = "0.48.0"
 dependencies = [
  "ibc-client-tendermint-types",
  "ibc-core-client",
@@ -1276,12 +1263,14 @@ dependencies = [
  "ibc-core-host",
  "ibc-primitives",
  "prost",
+ "serde",
+ "tendermint",
  "tendermint-light-client-verifier",
 ]
 
 [[package]]
 name = "ibc-client-tendermint-types"
-version = "0.47.0"
+version = "0.48.0"
 dependencies = [
  "bytes",
  "displaydoc",
@@ -1293,6 +1282,7 @@ dependencies = [
  "ibc-primitives",
  "ibc-proto",
  "prost",
+ "serde",
  "tendermint",
  "tendermint-light-client-verifier",
  "tendermint-proto",
@@ -1300,14 +1290,14 @@ dependencies = [
 
 [[package]]
 name = "ibc-clients"
-version = "0.47.0"
+version = "0.48.0"
 dependencies = [
  "ibc-client-tendermint",
 ]
 
 [[package]]
 name = "ibc-core"
-version = "0.47.0"
+version = "0.48.0"
 dependencies = [
  "ibc-core-channel",
  "ibc-core-client",
@@ -1321,7 +1311,7 @@ dependencies = [
 
 [[package]]
 name = "ibc-core-channel"
-version = "0.47.0"
+version = "0.48.0"
 dependencies = [
  "ibc-core-channel-types",
  "ibc-core-client",
@@ -1336,7 +1326,7 @@ dependencies = [
 
 [[package]]
 name = "ibc-core-channel-types"
-version = "0.47.0"
+version = "0.48.0"
 dependencies = [
  "derive_more",
  "displaydoc",
@@ -1355,21 +1345,20 @@ dependencies = [
 
 [[package]]
 name = "ibc-core-client"
-version = "0.47.0"
+version = "0.48.0"
 dependencies = [
  "ibc-core-client-context",
  "ibc-core-client-types",
  "ibc-core-commitment-types",
  "ibc-core-handler-types",
  "ibc-core-host",
- "ibc-derive",
  "ibc-primitives",
  "prost",
 ]
 
 [[package]]
 name = "ibc-core-client-context"
-version = "0.47.0"
+version = "0.48.0"
 dependencies = [
  "derive_more",
  "displaydoc",
@@ -1386,7 +1375,7 @@ dependencies = [
 
 [[package]]
 name = "ibc-core-client-types"
-version = "0.47.0"
+version = "0.48.0"
 dependencies = [
  "derive_more",
  "displaydoc",
@@ -1402,7 +1391,7 @@ dependencies = [
 
 [[package]]
 name = "ibc-core-commitment-types"
-version = "0.47.0"
+version = "0.48.0"
 dependencies = [
  "derive_more",
  "displaydoc",
@@ -1416,7 +1405,7 @@ dependencies = [
 
 [[package]]
 name = "ibc-core-connection"
-version = "0.47.0"
+version = "0.48.0"
 dependencies = [
  "ibc-core-client",
  "ibc-core-connection-types",
@@ -1428,7 +1417,7 @@ dependencies = [
 
 [[package]]
 name = "ibc-core-connection-types"
-version = "0.47.0"
+version = "0.48.0"
 dependencies = [
  "derive_more",
  "displaydoc",
@@ -1445,7 +1434,7 @@ dependencies = [
 
 [[package]]
 name = "ibc-core-handler"
-version = "0.47.0"
+version = "0.48.0"
 dependencies = [
  "ibc-core-channel",
  "ibc-core-client",
@@ -1459,7 +1448,7 @@ dependencies = [
 
 [[package]]
 name = "ibc-core-handler-types"
-version = "0.47.0"
+version = "0.48.0"
 dependencies = [
  "derive_more",
  "displaydoc",
@@ -1479,7 +1468,7 @@ dependencies = [
 
 [[package]]
 name = "ibc-core-host"
-version = "0.47.0"
+version = "0.48.0"
 dependencies = [
  "derive_more",
  "displaydoc",
@@ -1495,9 +1484,32 @@ dependencies = [
  "subtle-encoding",
 ]
 
+[[package]]
+name = "ibc-core-host-cosmos"
+version = "0.48.0"
+dependencies = [
+ "derive_more",
+ "displaydoc",
+ "ibc-app-transfer-types",
+ "ibc-client-tendermint",
+ "ibc-core-client-context",
+ "ibc-core-client-types",
+ "ibc-core-commitment-types",
+ "ibc-core-connection-types",
+ "ibc-core-handler-types",
+ "ibc-core-host-types",
+ "ibc-primitives",
+ "ibc-proto",
+ "prost",
+ "serde",
+ "sha2 0.10.8",
+ "subtle-encoding",
+ "tendermint",
+]
+
 [[package]]
 name = "ibc-core-host-types"
-version = "0.47.0"
+version = "0.48.0"
 dependencies = [
  "derive_more",
  "displaydoc",
@@ -1507,7 +1519,7 @@ dependencies = [
 
 [[package]]
 name = "ibc-core-router"
-version = "0.47.0"
+version = "0.48.0"
 dependencies = [
  "derive_more",
  "displaydoc",
@@ -1521,7 +1533,7 @@ dependencies = [
 
 [[package]]
 name = "ibc-core-router-types"
-version = "0.47.0"
+version = "0.48.0"
 dependencies = [
  "derive_more",
  "displaydoc",
@@ -1537,7 +1549,7 @@ dependencies = [
 
 [[package]]
 name = "ibc-derive"
-version = "0.3.0"
+version = "0.4.0"
 dependencies = [
  "darling",
  "proc-macro2",
@@ -1547,7 +1559,7 @@ dependencies = [
 
 [[package]]
 name = "ibc-primitives"
-version = "0.47.0"
+version = "0.48.0"
 dependencies = [
  "derive_more",
  "displaydoc",
diff --git a/ibc-clients/ics07-tendermint/Cargo.toml b/ibc-clients/ics07-tendermint/Cargo.toml
index f59ee647b..22a46ae28 100644
--- a/ibc-clients/ics07-tendermint/Cargo.toml
+++ b/ibc-clients/ics07-tendermint/Cargo.toml
@@ -37,6 +37,7 @@ tendermint-light-client-verifier = { workspace = true, features = ["rust-crypto"
 default = ["std"]
 std = [
     "prost/std",
+    "serde/std",
     "ibc-client-tendermint-types/std",
     "ibc-core-client/std",
     "ibc-core-commitment-types/std",
@@ -60,6 +61,8 @@ schema = [
     "ibc-core-host/schema",
     "ibc-core-handler-types/schema",
     "ibc-primitives/schema",
+    "serde",
+    "std"
 ]
 borsh = [
     "ibc-client-tendermint-types/borsh",
diff --git a/ibc-core/Cargo.toml b/ibc-core/Cargo.toml
index f8853a76f..896c16987 100644
--- a/ibc-core/Cargo.toml
+++ b/ibc-core/Cargo.toml
@@ -63,6 +63,8 @@ schema = [
     "ibc-core-host/schema",
     "ibc-core-router/schema",
     "ibc-core-handler/schema",
+    "serde",
+    "std"
 ]
 parity-scale-codec = [
     "ibc-core-client/parity-scale-codec",
diff --git a/ibc-core/ics02-client/context/Cargo.toml b/ibc-core/ics02-client/context/Cargo.toml
index 06a23157b..5a5f1d467 100644
--- a/ibc-core/ics02-client/context/Cargo.toml
+++ b/ibc-core/ics02-client/context/Cargo.toml
@@ -7,7 +7,7 @@ rust-version = { workspace = true }
 license      = { workspace = true }
 repository   = { workspace = true }
 keywords     = ["blockchain", "cosmos", "ibc"]
-readme       = "./../README.md"
+readme       = "./../../README.md"
 description  = """
     Maintaind by `ibc-rs`, contains essential APIs to interface with the host chain's store, 
     enabling smooth client state transitions. Additionally, provides necessary traits for 
diff --git a/ibc-core/ics04-channel/Cargo.toml b/ibc-core/ics04-channel/Cargo.toml
index f49c7175b..ba955ef67 100644
--- a/ibc-core/ics04-channel/Cargo.toml
+++ b/ibc-core/ics04-channel/Cargo.toml
@@ -33,6 +33,7 @@ ibc-primitives            = { workspace = true }
 [features]
 default = ["std"]
 std = [
+    "prost/std",
     "ibc-core-client/std",
     "ibc-core-connection/std",
     "ibc-core-channel-types/std",
@@ -61,6 +62,8 @@ schema = [
     "ibc-core-handler-types/schema",
     "ibc-core-router/schema",
     "ibc-primitives/schema",
+    "serde",
+    "std"
 ]
 borsh = [
     "ibc-core-client/borsh",
diff --git a/ibc-core/ics04-channel/types/Cargo.toml b/ibc-core/ics04-channel/types/Cargo.toml
index b19aa13df..ab06daea0 100644
--- a/ibc-core/ics04-channel/types/Cargo.toml
+++ b/ibc-core/ics04-channel/types/Cargo.toml
@@ -79,6 +79,8 @@ schema = [
     "ibc-core-commitment-types/schema",
     "ibc-primitives/schema",
     "ibc-proto/json-schema",
+    "serde",
+    "std"
 ]
 borsh = [
     "dep:borsh",
diff --git a/ibc-core/ics24-host/Cargo.toml b/ibc-core/ics24-host/Cargo.toml
index dc28e951f..664d3da23 100644
--- a/ibc-core/ics24-host/Cargo.toml
+++ b/ibc-core/ics24-host/Cargo.toml
@@ -40,6 +40,9 @@ rstest = { workspace = true }
 [features]
 default = ["std"]
 std = [
+    "displaydoc/std",
+    "prost/std",
+    "subtle-encoding/std",
     "ibc-core-client-types/std",
     "ibc-core-client-context/std",
     "ibc-core-connection-types/std",
diff --git a/ibc-core/ics24-host/cosmos/Cargo.toml b/ibc-core/ics24-host/cosmos/Cargo.toml
index 51a9ef519..ee57aab62 100644
--- a/ibc-core/ics24-host/cosmos/Cargo.toml
+++ b/ibc-core/ics24-host/cosmos/Cargo.toml
@@ -7,7 +7,7 @@ rust-version = { workspace = true }
 license      = { workspace = true }
 repository   = { workspace = true }
 keywords     = ["blockchain", "cosmos", "ibc", "tendermint"]
-readme       = "./../README.md"
+readme       = "./../../README.md"
 description  = """
     Maintained by `ibc-rs`, contains Cosmos-specific helper traits and implementations
     to facilitate IBC integration, ensuring proper interaction with modules/components
@@ -56,6 +56,7 @@ std = [
     "displaydoc/std",
     "prost/std",
     "serde/std",
+    "sha2/std",
     "subtle-encoding/std",
     "ibc-core-client-types/std",
     "ibc-core-client-context/std",
@@ -88,6 +89,8 @@ schema = [
     "ibc-core-handler-types/schema",
     "ibc-primitives/schema",
     "ibc-proto/json-schema",
+    "serde",
+    "std"
 ]
 borsh = [
     "dep:borsh",
diff --git a/ibc-core/ics24-host/cosmos/src/utils.rs b/ibc-core/ics24-host/cosmos/src/utils.rs
index 7ecf41975..613a48f36 100644
--- a/ibc-core/ics24-host/cosmos/src/utils.rs
+++ b/ibc-core/ics24-host/cosmos/src/utils.rs
@@ -1,6 +1,6 @@
 use ibc_app_transfer_types::VERSION;
 use ibc_core_host_types::identifiers::{ChannelId, PortId};
-pub use ibc_primitives::prelude::*;
+use ibc_primitives::prelude::*;
 use sha2::{Digest, Sha256};
 
 /// Helper function to generate an escrow address for a given port and channel
diff --git a/ibc-core/ics25-handler/Cargo.toml b/ibc-core/ics25-handler/Cargo.toml
index ea8b1aea8..1e158e402 100644
--- a/ibc-core/ics25-handler/Cargo.toml
+++ b/ibc-core/ics25-handler/Cargo.toml
@@ -64,6 +64,8 @@ schema = [
     "ibc-core-host/schema",
     "ibc-core-router/schema",
     "ibc-core-handler-types/schema",
+    "serde",
+    "std"
 ]
 parity-scale-codec = [
     "ibc-core-client/parity-scale-codec",
diff --git a/ibc-core/ics25-handler/src/lib.rs b/ibc-core/ics25-handler/src/lib.rs
index a9505d9aa..203c98c2f 100644
--- a/ibc-core/ics25-handler/src/lib.rs
+++ b/ibc-core/ics25-handler/src/lib.rs
@@ -2,6 +2,13 @@
 //! entry points are responsible for processing incoming IBC messages,
 //! performing validation, and execution logics by invoking the appropriate
 //! module handler.
+//!
+//! When processing a given message `M`, if any method in this library returns
+//! an error, the runtime is expected to rollback all state modifications made
+//! to the context (e.g. [`ExecutionContext`](ibc_core_host::ExecutionContext))
+//! while processing `M`. If the transaction containing `M` consists of multiple
+//! messages, then typically the state modifications from all messages is
+//! expected to be rolled back as well.
 #![no_std]
 #![forbid(unsafe_code)]
 #![cfg_attr(not(test), deny(clippy::unwrap_used))]
diff --git a/ibc-core/ics26-routing/Cargo.toml b/ibc-core/ics26-routing/Cargo.toml
index 6fedc2fc9..91e75f476 100644
--- a/ibc-core/ics26-routing/Cargo.toml
+++ b/ibc-core/ics26-routing/Cargo.toml
@@ -57,6 +57,8 @@ schema = [
     "ibc-core-host-types/schema",
     "ibc-core-router-types/schema",
     "ibc-primitives/schema",
+    "serde",
+    "std"
 ]
 parity-scale-codec = [
     "ibc-core-channel-types/parity-scale-codec",
diff --git a/ibc-data-types/README.md b/ibc-data-types/README.md
index 0beb79852..90671b8cb 100644
--- a/ibc-data-types/README.md
+++ b/ibc-data-types/README.md
@@ -19,25 +19,25 @@ providing a clear and modular path for easy navigation and usage:
 ### Core
 
 | <div style="width:300px">Specification</div> | Crate |
-| ------------------------------------------- | ------ |
-| ICS-02: Client Semantics                    | [ibc-core-client-types](./../ibc-core/ics02-client/types) |
-| ICS-03: Connection Semantics                | [ibc-core-connection-types](./../ibc-core/ics03-connection/types) |
-| ICS-04: Channel and Packet Semantics        | [ibc-core-channel-types](./../ibc-core/ics04-channel/types) |
-| ICS-24: Host Requirements                   | [ibc-core-host-types](./../ibc-core/ics24-host/types) |
-| ICS-25: Handler Interface                   | [ibc-core-handler-types](./../ibc-core/ics25-handler/types) |
-| ICS-26: Routing Module                      | [ibc-core-routing-types](./../ibc-core/ics26-routing/types) |
+| -------------------------------------------- | ------ |
+| ICS-02: Client Semantics                     | [ibc-core-client-types](./../ibc-core/ics02-client/types) |
+| ICS-03: Connection Semantics                 | [ibc-core-connection-types](./../ibc-core/ics03-connection/types) |
+| ICS-04: Channel and Packet Semantics         | [ibc-core-channel-types](./../ibc-core/ics04-channel/types) |
+| ICS-24: Host Requirements                    | [ibc-core-host-types](./../ibc-core/ics24-host/types) |
+| ICS-25: Handler Interface                    | [ibc-core-handler-types](./../ibc-core/ics25-handler/types) |
+| ICS-26: Routing Module                       | [ibc-core-routing-types](./../ibc-core/ics26-routing/types) |
 
 ### Clients
 
 | <div style="width:300px">Specification</div> | Crate |
-| ------------------------------------------- | ------ |
-| ICS-07: Tendermint Client                   | [ibc-client-tendermint-types](./../ibc-clients/ics07-tendermint/types) |
+| -------------------------------------------- | ------ |
+| ICS-07: Tendermint Client                    | [ibc-client-tendermint-types](./../ibc-clients/ics07-tendermint/types) |
 
 ### Apps
 
 | <div style="width:300px">Specification</div> | Crate |
-| ------------------------------------------- | ------ |
-| ICS-20: Fungible Token Transfer             | [ibc-app-transfer-types](./../ibc-apps/ics20-transfer/types) |
+| -------------------------------------------- | ------ |
+| ICS-20: Fungible Token Transfer              | [ibc-app-transfer-types](./../ibc-apps/ics20-transfer/types) |
 
 ## Contributing
 
diff --git a/ibc-derive/Cargo.toml b/ibc-derive/Cargo.toml
index 532f6f783..8d1355c08 100644
--- a/ibc-derive/Cargo.toml
+++ b/ibc-derive/Cargo.toml
@@ -1,6 +1,6 @@
 [package]
 name        = "ibc-derive"
-version     = "0.3.0"
+version     = "0.4.0"
 license     = { workspace = true }
 repository  = { workspace = true }
 edition     = { workspace = true }
diff --git a/ibc-primitives/README.md b/ibc-primitives/README.md
index 3b4cc4ec8..db295a8fd 100644
--- a/ibc-primitives/README.md
+++ b/ibc-primitives/README.md
@@ -1,4 +1,4 @@
-# `ibc-primitives`
+# IBC Primitives
 
 This library furnishes essential types, traits, and utilities universally utilized in the
 implementation of diverse IBC modules, encompassing core functionalities,
diff --git a/ibc/src/lib.rs b/ibc/src/lib.rs
index 1e9eaab80..02887a4e6 100644
--- a/ibc/src/lib.rs
+++ b/ibc/src/lib.rs
@@ -30,14 +30,6 @@
 //! This is the part of the protocol that abstracts away the core protocol and
 //! focuses solely on business logic.
 //!
-//! When processing a given message `M`, if any method in this library returns
-//! an error, the runtime is expected to rollback all state modifications made
-//! to the context (e.g.
-//! [`ExecutionContext`](crate::core::host::ExecutionContext)) while processing
-//! `M`. If a transaction on your blockchain contains multiple messages, then
-//! typically the state modifications from all messages is expected to be rolled
-//! back as well.
-//!
 //! [ibc-standard]: https://github.com/cosmos/ibc
 //! [ibc-rs]: https://github.com/cosmos/ibc-rs