diff --git a/Cargo.lock b/Cargo.lock
index e080fbcbaa1fc..840ef4febbd9b 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -300,6 +300,12 @@ dependencies = [
  "webpki-roots 0.19.0",
 ]
 
+[[package]]
+name = "atomic"
+version = "0.4.6"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "64f46ca51dca4837f1520754d1c8c36636356b81553d928dc9c177025369a06e"
+
 [[package]]
 name = "atty"
 version = "0.2.14"
@@ -2791,10 +2797,11 @@ checksum = "c7d73b3f436185384286bd8098d17ec07c9a7d2388a6599f824d8502b529702a"
 
 [[package]]
 name = "libp2p"
-version = "0.22.0"
+version = "0.23.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "0306a49ee6a89468f96089906f36b0eef82c988dcfc8acf3e2dcd6ad1c859f85"
+checksum = "b1ebb6c031584a5af181fe3a1e4b074af5d0b1a3b31663200f0251f4bcff6b5c"
 dependencies = [
+ "atomic",
  "bytes 0.5.4",
  "futures 0.3.5",
  "lazy_static",
@@ -2959,9 +2966,9 @@ dependencies = [
 
 [[package]]
 name = "libp2p-noise"
-version = "0.21.0"
+version = "0.22.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "8f353f8966bbaaf7456535fffd3f366f153148773a0cf04b2ec3860955cb720e"
+checksum = "1e594f2de0c23c2b7ad14802c991a2e68e95315c6a6c7715e53801506f20135d"
 dependencies = [
  "bytes 0.5.4",
  "curve25519-dalek",
diff --git a/bin/node/browser-testing/Cargo.toml b/bin/node/browser-testing/Cargo.toml
index c3136ab74a457..1f5db1053d741 100644
--- a/bin/node/browser-testing/Cargo.toml
+++ b/bin/node/browser-testing/Cargo.toml
@@ -8,7 +8,7 @@ license = "Apache-2.0"
 
 [dependencies]
 futures-timer = "3.0.2"
-libp2p = { version = "0.22.0", default-features = false }
+libp2p = { version = "0.23.0", default-features = false }
 jsonrpc-core = "14.2.0"
 serde = "1.0.106"
 serde_json = "1.0.48"
diff --git a/bin/utils/subkey/Cargo.toml b/bin/utils/subkey/Cargo.toml
index 5338b36080773..459df884d6884 100644
--- a/bin/utils/subkey/Cargo.toml
+++ b/bin/utils/subkey/Cargo.toml
@@ -33,7 +33,7 @@ derive_more = { version = "0.99.2" }
 sc-rpc = { version = "2.0.0-rc5", path = "../../../client/rpc" }
 jsonrpc-core-client = { version = "14.2.0", features = ["http"] }
 hyper = "0.12.35"
-libp2p = { version = "0.22.0", default-features = false }
+libp2p = { version = "0.23.0", default-features = false }
 serde_json = "1.0"
 
 [features]
diff --git a/client/authority-discovery/Cargo.toml b/client/authority-discovery/Cargo.toml
index 2866fc141a203..3f3e5b5589473 100644
--- a/client/authority-discovery/Cargo.toml
+++ b/client/authority-discovery/Cargo.toml
@@ -21,7 +21,7 @@ codec = { package = "parity-scale-codec", default-features = false, version = "1
 derive_more = "0.99.2"
 futures = "0.3.4"
 futures-timer = "3.0.1"
-libp2p = { version = "0.22.0", default-features = false, features = ["kad"] }
+libp2p = { version = "0.23.0", default-features = false, features = ["kad"] }
 log = "0.4.8"
 prometheus-endpoint = { package = "substrate-prometheus-endpoint", path = "../../utils/prometheus", version = "0.8.0-rc5"}
 prost = "0.6.1"
diff --git a/client/informant/src/display.rs b/client/informant/src/display.rs
index 4491eb61d69ca..ce7fb4fc4b12b 100644
--- a/client/informant/src/display.rs
+++ b/client/informant/src/display.rs
@@ -45,6 +45,10 @@ pub struct InformantDisplay<B: BlockT> {
 	last_number: Option<NumberFor<B>>,
 	/// The last time `display` or `new` has been called.
 	last_update: Instant,
+	/// The last seen total of bytes received.
+	last_total_bytes_inbound: u64,
+	/// The last seen total of bytes sent.
+	last_total_bytes_outbound: u64,
 	/// The format to print output in.
 	format: OutputFormat,
 }
@@ -55,6 +59,8 @@ impl<B: BlockT> InformantDisplay<B> {
 		InformantDisplay {
 			last_number: None,
 			last_update: Instant::now(),
+			last_total_bytes_inbound: 0,
+			last_total_bytes_outbound: 0,
 			format,
 		}
 	}
@@ -66,9 +72,25 @@ impl<B: BlockT> InformantDisplay<B> {
 		let finalized_number = info.chain.finalized_number;
 		let num_connected_peers = net_status.num_connected_peers;
 		let speed = speed::<B>(best_number, self.last_number, self.last_update);
-		self.last_update = Instant::now();
+		let total_bytes_inbound = net_status.total_bytes_inbound;
+		let total_bytes_outbound = net_status.total_bytes_outbound;
+
+		let now = Instant::now();
+		let elapsed = (now - self.last_update).as_secs();
+		self.last_update = now;
 		self.last_number = Some(best_number);
 
+		let diff_bytes_inbound = total_bytes_inbound - self.last_total_bytes_inbound;
+		let diff_bytes_outbound = total_bytes_outbound - self.last_total_bytes_outbound;
+		let (avg_bytes_per_sec_inbound, avg_bytes_per_sec_outbound) =
+			if elapsed > 0 {
+				self.last_total_bytes_inbound = total_bytes_inbound;
+				self.last_total_bytes_outbound = total_bytes_outbound;
+				(diff_bytes_inbound / elapsed, diff_bytes_outbound / elapsed)
+			} else {
+				(diff_bytes_inbound, diff_bytes_outbound)
+			};
+
 		let (level, status, target) = match (net_status.sync_state, net_status.best_seen_block) {
 			(SyncState::Idle, _) => ("💤", "Idle".into(), "".into()),
 			(SyncState::Downloading, None) => ("⚙️ ", format!("Preparing{}", speed), "".into()),
@@ -92,8 +114,8 @@ impl<B: BlockT> InformantDisplay<B> {
 				best_hash,
 				Colour::White.bold().paint(format!("{}", finalized_number)),
 				info.chain.finalized_hash,
-				Colour::Green.paint(format!("⬇ {}", TransferRateFormat(net_status.average_download_per_sec))),
-				Colour::Red.paint(format!("⬆ {}", TransferRateFormat(net_status.average_upload_per_sec))),
+				Colour::Green.paint(format!("⬇ {}", TransferRateFormat(avg_bytes_per_sec_inbound))),
+				Colour::Red.paint(format!("⬆ {}", TransferRateFormat(avg_bytes_per_sec_outbound))),
 			)
 		} else {
 			info!(
@@ -108,8 +130,8 @@ impl<B: BlockT> InformantDisplay<B> {
 				best_hash,
 				finalized_number,
 				info.chain.finalized_hash,
-				TransferRateFormat(net_status.average_download_per_sec),
-				TransferRateFormat(net_status.average_upload_per_sec),
+				TransferRateFormat(avg_bytes_per_sec_inbound),
+				TransferRateFormat(avg_bytes_per_sec_outbound),
 			)
 		}
 	}
diff --git a/client/network-gossip/Cargo.toml b/client/network-gossip/Cargo.toml
index 95c0840dc8cbb..90d606238b6a5 100644
--- a/client/network-gossip/Cargo.toml
+++ b/client/network-gossip/Cargo.toml
@@ -16,7 +16,7 @@ targets = ["x86_64-unknown-linux-gnu"]
 [dependencies]
 futures = "0.3.4"
 futures-timer = "3.0.1"
-libp2p = { version = "0.22.0", default-features = false }
+libp2p = { version = "0.23.0", default-features = false }
 log = "0.4.8"
 lru = "0.4.3"
 sc-network = { version = "0.8.0-rc5", path = "../network" }
diff --git a/client/network/Cargo.toml b/client/network/Cargo.toml
index 11346fdd3ffc6..39598e2a88755 100644
--- a/client/network/Cargo.toml
+++ b/client/network/Cargo.toml
@@ -26,7 +26,7 @@ erased-serde = "0.3.9"
 fnv = "1.0.6"
 fork-tree = { version = "2.0.0-rc5", path = "../../utils/fork-tree" }
 futures = "0.3.4"
-futures-timer = "3.0.1"
+futures-timer = "3.0.2"
 futures_codec = "0.4.0"
 hex = "0.4.0"
 ip_network = "0.3.4"
@@ -61,7 +61,7 @@ wasm-timer = "0.2"
 zeroize = "1.0.0"
 
 [dependencies.libp2p]
-version = "0.22.0"
+version = "0.23.0"
 default-features = false
 features = ["identify", "kad", "mdns", "mplex", "noise", "ping", "tcp-async-std", "websocket", "yamux"]
 
@@ -69,7 +69,7 @@ features = ["identify", "kad", "mdns", "mplex", "noise", "ping", "tcp-async-std"
 async-std = "1.6.2"
 assert_matches = "1.3"
 env_logger = "0.7.0"
-libp2p = { version = "0.22.0", default-features = false, features = ["secio"] }
+libp2p = { version = "0.23.0", default-features = false, features = ["secio"] }
 quickcheck = "0.9.0"
 rand = "0.7.2"
 sp-keyring = { version = "2.0.0-rc5", path = "../../primitives/keyring" }
diff --git a/client/network/src/lib.rs b/client/network/src/lib.rs
index fc5cab321d127..69635fce11f7c 100644
--- a/client/network/src/lib.rs
+++ b/client/network/src/lib.rs
@@ -309,8 +309,8 @@ pub struct NetworkStatus<B: BlockT> {
 	pub num_connected_peers: usize,
 	/// Total number of active peers.
 	pub num_active_peers: usize,
-	/// Downloaded bytes per second averaged over the past few seconds.
-	pub average_download_per_sec: u64,
-	/// Uploaded bytes per second averaged over the past few seconds.
-	pub average_upload_per_sec: u64,
+	/// The total number of bytes received.
+	pub total_bytes_inbound: u64,
+	/// The total number of bytes sent.
+	pub total_bytes_outbound: u64,
 }
diff --git a/client/network/src/network_state.rs b/client/network/src/network_state.rs
index 970a63faed4ea..2e24e9c5a9f58 100644
--- a/client/network/src/network_state.rs
+++ b/client/network/src/network_state.rs
@@ -43,10 +43,10 @@ pub struct NetworkState {
 	pub connected_peers: HashMap<String, Peer>,
 	/// List of node that we know of but that we're not connected to.
 	pub not_connected_peers: HashMap<String, NotConnectedPeer>,
-	/// Downloaded bytes per second averaged over the past few seconds.
-	pub average_download_per_sec: u64,
-	/// Uploaded bytes per second averaged over the past few seconds.
-	pub average_upload_per_sec: u64,
+	/// The total number of bytes received.
+	pub total_bytes_inbound: u64,
+	/// The total number of bytes sent.
+	pub total_bytes_outbound: u64,
 	/// State of the peerset manager.
 	pub peerset: serde_json::Value,
 }
diff --git a/client/network/src/service.rs b/client/network/src/service.rs
index 230af3fb8e185..8ea2b7200b1a6 100644
--- a/client/network/src/service.rs
+++ b/client/network/src/service.rs
@@ -387,14 +387,14 @@ impl<B: BlockT + 'static, H: ExHashT> NetworkWorker<B, H> {
 		})
 	}
 
-	/// Returns the downloaded bytes per second averaged over the past few seconds.
-	pub fn average_download_per_sec(&self) -> u64 {
-		self.service.bandwidth.average_download_per_sec()
+	/// Returns the total number of bytes received so far.
+	pub fn total_bytes_inbound(&self) -> u64 {
+		self.service.bandwidth.total_inbound()
 	}
 
-	/// Returns the uploaded bytes per second averaged over the past few seconds.
-	pub fn average_upload_per_sec(&self) -> u64 {
-		self.service.bandwidth.average_upload_per_sec()
+	/// Returns the total number of bytes sent so far.
+	pub fn total_bytes_outbound(&self) -> u64 {
+		self.service.bandwidth.total_outbound()
 	}
 
 	/// Returns the number of peers we're connected to.
@@ -526,8 +526,8 @@ impl<B: BlockT + 'static, H: ExHashT> NetworkWorker<B, H> {
 			peer_id: Swarm::<B, H>::local_peer_id(&swarm).to_base58(),
 			listened_addresses: Swarm::<B, H>::listeners(&swarm).cloned().collect(),
 			external_addresses: Swarm::<B, H>::external_addresses(&swarm).cloned().collect(),
-			average_download_per_sec: self.service.bandwidth.average_download_per_sec(),
-			average_upload_per_sec: self.service.bandwidth.average_upload_per_sec(),
+			total_bytes_inbound: self.service.bandwidth.total_inbound(),
+			total_bytes_outbound: self.service.bandwidth.total_outbound(),
 			connected_peers,
 			not_connected_peers,
 			peerset: swarm.user_protocol_mut().peerset_debug_info(),
@@ -1133,7 +1133,9 @@ struct Metrics {
 	kbuckets_num_nodes: GaugeVec<U64>,
 	listeners_local_addresses: Gauge<U64>,
 	listeners_errors_total: Counter<U64>,
-	network_per_sec_bytes: GaugeVec<U64>,
+	// Note: `network_bytes_total` is a monotonic gauge obtained by
+	// sampling an existing counter.
+	network_bytes_total: GaugeVec<U64>,
 	notifications_sizes: HistogramVec,
 	notifications_streams_closed_total: CounterVec<U64>,
 	notifications_streams_opened_total: CounterVec<U64>,
@@ -1250,10 +1252,10 @@ impl Metrics {
 				"sub_libp2p_listeners_errors_total",
 				"Total number of non-fatal errors reported by a listener"
 			)?, registry)?,
-			network_per_sec_bytes: register(GaugeVec::new(
+			network_bytes_total: register(GaugeVec::new(
 				Opts::new(
-					"sub_libp2p_network_per_sec_bytes",
-					"Average bandwidth usage per second"
+					"sub_libp2p_network_bytes_total",
+					"Total bandwidth usage"
 				),
 				&["direction"]
 			)?, registry)?,
@@ -1704,8 +1706,8 @@ impl<B: BlockT + 'static, H: ExHashT> Future for NetworkWorker<B, H> {
 		this.is_major_syncing.store(is_major_syncing, Ordering::Relaxed);
 
 		if let Some(metrics) = this.metrics.as_ref() {
-			metrics.network_per_sec_bytes.with_label_values(&["in"]).set(this.service.bandwidth.average_download_per_sec());
-			metrics.network_per_sec_bytes.with_label_values(&["out"]).set(this.service.bandwidth.average_upload_per_sec());
+			metrics.network_bytes_total.with_label_values(&["in"]).set(this.service.bandwidth.total_inbound());
+			metrics.network_bytes_total.with_label_values(&["out"]).set(this.service.bandwidth.total_outbound());
 			metrics.is_major_syncing.set(is_major_syncing as u64);
 			for (proto, num_entries) in this.network_service.num_kbuckets_entries() {
 				let proto = maybe_utf8_bytes_to_string(proto.as_bytes());
diff --git a/client/network/src/transport.rs b/client/network/src/transport.rs
index 0c9a809384e4c..e8836c4c269a5 100644
--- a/client/network/src/transport.rs
+++ b/client/network/src/transport.rs
@@ -27,7 +27,7 @@ use libp2p::{
 };
 #[cfg(not(target_os = "unknown"))]
 use libp2p::{tcp, dns, websocket};
-use std::{io, sync::Arc, time::Duration, usize};
+use std::{io, sync::Arc, time::Duration};
 
 pub use self::bandwidth::BandwidthSinks;
 
@@ -43,7 +43,11 @@ pub fn build_transport(
 	memory_only: bool,
 	wasm_external_transport: Option<wasm_ext::ExtTransport>,
 	use_yamux_flow_control: bool
-) -> (Boxed<(PeerId, StreamMuxerBox), io::Error>, Arc<bandwidth::BandwidthSinks>) {
+) -> (Boxed<(PeerId, StreamMuxerBox), io::Error>, Arc<BandwidthSinks>) {
+	// Legacy noise configurations for backward compatibility.
+	let mut noise_legacy = noise::LegacyConfig::default();
+	noise_legacy.send_legacy_handshake = true;
+
 	// Build configuration objects for encryption mechanisms.
 	let noise_config = {
 		// For more information about these two panics, see in "On the Importance of
@@ -58,10 +62,12 @@ pub fn build_transport(
 				once and at initialization, we're taking the bet that the inconvenience of a very \
 				rare panic here is basically zero");
 
-		core::upgrade::SelectUpgrade::new(
-			noise::NoiseConfig::xx(noise_keypair_spec),
-			noise::NoiseConfig::ix(noise_keypair_legacy)
-		)
+		let mut xx_config = noise::NoiseConfig::xx(noise_keypair_spec);
+		xx_config.set_legacy_config(noise_legacy.clone());
+		let mut ix_config = noise::NoiseConfig::ix(noise_keypair_legacy);
+		ix_config.set_legacy_config(noise_legacy);
+
+		core::upgrade::SelectUpgrade::new(xx_config, ix_config)
 	};
 
 	// Build configuration objects for multiplexing mechanisms.
@@ -104,7 +110,7 @@ pub fn build_transport(
 		OptionalTransport::none()
 	});
 
-	let (transport, sinks) = bandwidth::BandwidthLogging::new(transport, Duration::from_secs(5));
+	let (transport, bandwidth) = bandwidth::BandwidthLogging::new(transport);
 
 	// Encryption
 	let transport = transport.and_then(move |stream, endpoint| {
@@ -145,5 +151,6 @@ pub fn build_transport(
 			.map_err(|err| io::Error::new(io::ErrorKind::Other, err))
 			.boxed();
 
-	(transport, sinks)
+	(transport, bandwidth)
 }
+
diff --git a/client/network/test/Cargo.toml b/client/network/test/Cargo.toml
index eb7788f541638..7c157ce1c608e 100644
--- a/client/network/test/Cargo.toml
+++ b/client/network/test/Cargo.toml
@@ -19,7 +19,7 @@ parking_lot = "0.10.0"
 futures = "0.3.4"
 futures-timer = "3.0.1"
 rand = "0.7.2"
-libp2p = { version = "0.22.0", default-features = false }
+libp2p = { version = "0.23.0", default-features = false }
 sp-consensus = { version = "0.8.0-rc5", path = "../../../primitives/consensus/common" }
 sc-consensus = { version = "0.8.0-rc5", path = "../../../client/consensus/common" }
 sc-client-api = { version = "2.0.0-rc5", path = "../../api" }
diff --git a/client/peerset/Cargo.toml b/client/peerset/Cargo.toml
index 36654098067b1..8a9aa0adb1807 100644
--- a/client/peerset/Cargo.toml
+++ b/client/peerset/Cargo.toml
@@ -15,7 +15,7 @@ targets = ["x86_64-unknown-linux-gnu"]
 
 [dependencies]
 futures = "0.3.4"
-libp2p = { version = "0.22.0", default-features = false }
+libp2p = { version = "0.23.0", default-features = false }
 sp-utils = { version = "2.0.0-rc5", path = "../../primitives/utils"}
 log = "0.4.8"
 serde_json = "1.0.41"
diff --git a/client/rpc/src/system/tests.rs b/client/rpc/src/system/tests.rs
index 7fe5cdc752a06..dfe1fcc415159 100644
--- a/client/rpc/src/system/tests.rs
+++ b/client/rpc/src/system/tests.rs
@@ -87,8 +87,8 @@ fn api<T: Into<Option<Status>>>(sync: T) -> System<Block> {
 						external_addresses: Default::default(),
 						connected_peers: Default::default(),
 						not_connected_peers: Default::default(),
-						average_download_per_sec: 0,
-						average_upload_per_sec: 0,
+						total_bytes_inbound: 0,
+						total_bytes_outbound: 0,
 						peerset: serde_json::Value::Null,
 					}).unwrap());
 				},
@@ -282,8 +282,8 @@ fn system_network_state() {
 			external_addresses: Default::default(),
 			connected_peers: Default::default(),
 			not_connected_peers: Default::default(),
-			average_download_per_sec: 0,
-			average_upload_per_sec: 0,
+			total_bytes_inbound: 0,
+			total_bytes_outbound: 0,
 			peerset: serde_json::Value::Null,
 		}
 	);
diff --git a/client/service/src/lib.rs b/client/service/src/lib.rs
index 415a5de4f930d..e8d2ab8285c3c 100644
--- a/client/service/src/lib.rs
+++ b/client/service/src/lib.rs
@@ -322,8 +322,8 @@ async fn build_network_future<
 					num_sync_peers: network.num_sync_peers(),
 					num_connected_peers: network.num_connected_peers(),
 					num_active_peers: network.num_active_peers(),
-					average_download_per_sec: network.average_download_per_sec(),
-					average_upload_per_sec: network.average_upload_per_sec(),
+					total_bytes_inbound: network.total_bytes_inbound(),
+					total_bytes_outbound: network.total_bytes_outbound(),
 				};
 				let state = network.network_state();
 				ready_sink.send((status, state));
diff --git a/client/service/src/metrics.rs b/client/service/src/metrics.rs
index 7336d3862a65e..90a77667581bf 100644
--- a/client/service/src/metrics.rs
+++ b/client/service/src/metrics.rs
@@ -26,6 +26,7 @@ use sp_transaction_pool::PoolStatus;
 use sp_utils::metrics::register_globals;
 use sc_client_api::ClientInfo;
 use sc_network::config::Role;
+use wasm_timer::Instant;
 
 struct PrometheusMetrics {
 	// generic info
@@ -34,7 +35,6 @@ struct PrometheusMetrics {
 	ready_transactions_number: Gauge<U64>,
 
 	// I/O
-	network_per_sec_bytes: GaugeVec<U64>,
 	database_cache: Gauge<U64>,
 	state_cache: Gauge<U64>,
 	state_db: GaugeVec<U64>,
@@ -85,10 +85,6 @@ impl PrometheusMetrics {
 			)?, registry)?,
 
 			// I/ O
-			network_per_sec_bytes: register(GaugeVec::new(
-				Opts::new("network_per_sec_bytes", "Networking bytes per second"),
-				&["direction"]
-			)?, registry)?,
 			database_cache: register(Gauge::new(
 				"database_cache_bytes", "RocksDB cache size in bytes",
 			)?, registry)?,
@@ -105,11 +101,19 @@ impl PrometheusMetrics {
 
 pub struct MetricsService {
 	metrics: Option<PrometheusMetrics>,
+	last_update: Instant,
+	last_total_bytes_inbound: u64,
+	last_total_bytes_outbound: u64,
 }
 
 impl MetricsService {
 	pub fn new() -> Self {
-		MetricsService { metrics: None }
+		MetricsService {
+			metrics: None,
+			last_total_bytes_inbound: 0,
+			last_total_bytes_outbound: 0,
+			last_update: Instant::now(),
+		}
 	}
 
 	pub fn with_prometheus(
@@ -129,7 +133,12 @@ impl MetricsService {
 			&config.impl_version,
 			role_bits,
 		)
-		.map(|p| MetricsService { metrics: Some(p) })
+		.map(|p| MetricsService {
+			metrics: Some(p),
+			last_total_bytes_inbound: 0,
+			last_total_bytes_outbound: 0,
+			last_update: Instant::now(),
+		})
 	}
 
 	pub fn tick<T: Block>(
@@ -138,16 +147,31 @@ impl MetricsService {
 		txpool_status: &PoolStatus,
 		net_status: &NetworkStatus<T>,
 	) {
+		let now = Instant::now();
+		let elapsed = (now - self.last_update).as_secs();
+
 		let best_number = info.chain.best_number.saturated_into::<u64>();
 		let best_hash = info.chain.best_hash;
 		let num_peers = net_status.num_connected_peers;
 		let finalized_number: u64 = info.chain.finalized_number.saturated_into::<u64>();
-		let bandwidth_download = net_status.average_download_per_sec;
-		let bandwidth_upload = net_status.average_upload_per_sec;
+		let total_bytes_inbound = net_status.total_bytes_inbound;
+		let total_bytes_outbound = net_status.total_bytes_outbound;
 		let best_seen_block = net_status
 			.best_seen_block
 			.map(|num: NumberFor<T>| num.unique_saturated_into() as u64);
 
+		let diff_bytes_inbound = total_bytes_inbound - self.last_total_bytes_inbound;
+		let diff_bytes_outbound = total_bytes_outbound - self.last_total_bytes_outbound;
+		let (avg_bytes_per_sec_inbound, avg_bytes_per_sec_outbound) =
+			if elapsed > 0 {
+				self.last_total_bytes_inbound = total_bytes_inbound;
+				self.last_total_bytes_outbound = total_bytes_outbound;
+				(diff_bytes_inbound / elapsed, diff_bytes_outbound / elapsed)
+			} else {
+				(diff_bytes_inbound, diff_bytes_outbound)
+			};
+		self.last_update = now;
+
 		telemetry!(
 			SUBSTRATE_INFO;
 			"system.interval";
@@ -157,8 +181,8 @@ impl MetricsService {
 			"txcount" => txpool_status.ready,
 			"finalized_height" => finalized_number,
 			"finalized_hash" => ?info.chain.finalized_hash,
-			"bandwidth_download" => bandwidth_download,
-			"bandwidth_upload" => bandwidth_upload,
+			"bandwidth_download" => avg_bytes_per_sec_inbound,
+			"bandwidth_upload" => avg_bytes_per_sec_outbound,
 			"used_state_cache_size" => info.usage.as_ref()
 				.map(|usage| usage.memory.state_cache.as_bytes())
 				.unwrap_or(0),
@@ -174,14 +198,6 @@ impl MetricsService {
 		);
 
 		if let Some(metrics) = self.metrics.as_ref() {
-			metrics
-				.network_per_sec_bytes
-				.with_label_values(&["download"])
-				.set(net_status.average_download_per_sec);
-			metrics
-				.network_per_sec_bytes
-				.with_label_values(&["upload"])
-				.set(net_status.average_upload_per_sec);
 			metrics
 				.block_height
 				.with_label_values(&["finalized"])
diff --git a/client/telemetry/Cargo.toml b/client/telemetry/Cargo.toml
index 09ec9a0910d40..4c9cc05b07fec 100644
--- a/client/telemetry/Cargo.toml
+++ b/client/telemetry/Cargo.toml
@@ -18,7 +18,7 @@ parking_lot = "0.10.0"
 futures = "0.3.4"
 futures-timer = "3.0.1"
 wasm-timer = "0.2.0"
-libp2p = { version = "0.22.0", default-features = false, features = ["dns", "tcp-async-std", "wasm-ext", "websocket"] }
+libp2p = { version = "0.23.0", default-features = false, features = ["dns", "tcp-async-std", "wasm-ext", "websocket"] }
 log = "0.4.8"
 pin-project = "0.4.6"
 rand = "0.7.2"
diff --git a/primitives/consensus/common/Cargo.toml b/primitives/consensus/common/Cargo.toml
index 67d5603fdc5f8..d8c5073274d75 100644
--- a/primitives/consensus/common/Cargo.toml
+++ b/primitives/consensus/common/Cargo.toml
@@ -15,7 +15,7 @@ targets = ["x86_64-unknown-linux-gnu"]
 
 [dependencies]
 derive_more = "0.99.2"
-libp2p = { version = "0.22.0", default-features = false }
+libp2p = { version = "0.23.0", default-features = false }
 log = "0.4.8"
 sp-core = { path= "../../core", version = "2.0.0-rc5"}
 sp-inherents = { version = "2.0.0-rc5", path = "../../inherents" }