diff --git a/Cargo.toml b/Cargo.toml
index df13f50..e6c8eec 100644
--- a/Cargo.toml
+++ b/Cargo.toml
@@ -13,7 +13,7 @@ targets = ["x86_64-unknown-linux-gnu"]
 
 [dependencies]
 serde = { version = "1.0.101", optional = true }
-codec = { package = "parity-scale-codec", version = "1.3.1", default-features = false, features = ["derive"] }
+codec = { package = "parity-scale-codec", version = "1.3.4", default-features = false, features = ["derive"] }
 sp-std = { version = "2.0.0-rc5", default-features = false, path = "../../primitives/std" }
 sp-runtime = { version = "2.0.0-rc5", default-features = false, path = "../../primitives/runtime" }
 frame-benchmarking = { version = "2.0.0-rc5", default-features = false, path = "../benchmarking", optional = true }