diff --git a/.changelog/unreleased/improvements/3254-rust-1.78.md b/.changelog/unreleased/improvements/3254-rust-1.78.md
new file mode 100644
index 0000000000..f08cb5c476
--- /dev/null
+++ b/.changelog/unreleased/improvements/3254-rust-1.78.md
@@ -0,0 +1,2 @@
+- Updated Rust toolchain to v1.78.0.
+  ([\#3254](https://github.com/anoma/namada/pull/3254))
\ No newline at end of file
diff --git a/Cargo.lock b/Cargo.lock
index f0b1785345..9d46375a15 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -5200,7 +5200,7 @@ dependencies = [
  "namada_gas",
  "namada_macros",
  "namada_migrations",
- "num-derive 0.3.3",
+ "num-derive 0.4.2",
  "num-traits 0.2.17",
  "proptest",
  "prost 0.12.3",
diff --git a/Cargo.toml b/Cargo.toml
index 088f455e41..7c8748d3af 100644
--- a/Cargo.toml
+++ b/Cargo.toml
@@ -129,7 +129,7 @@ masp_primitives = { git = "https://github.com/anoma/masp", rev = "6fc4692841a224
 masp_proofs = { git = "https://github.com/anoma/masp", rev = "6fc4692841a2241633792c429cc66b42023e5bf3", default-features = false, features = ["local-prover"] }
 num256 = "0.3.5"
 num_cpus = "1.13.0"
-num-derive = "0.3.3"
+num-derive = "0.4"
 num-rational = "0.4.1"
 num-traits = "0.2.14"
 once_cell = "1.8.0"
diff --git a/crates/core/src/storage.rs b/crates/core/src/storage.rs
index 8516c11ff1..de12f19706 100644
--- a/crates/core/src/storage.rs
+++ b/crates/core/src/storage.rs
@@ -53,6 +53,8 @@ pub enum Error {
          {0}"
     )]
     DbColFamily(String),
+    #[error("{0}")]
+    TryFromInt(#[from] std::num::TryFromIntError),
 }
 
 /// Result for functions that may fail
@@ -1086,14 +1088,17 @@ macro_rules! impl_int_key_seg {
                 // get signed int from a unsigned int complemented with a min
                 // value
                 let complemented = <$unsigned>::parse(string)?;
-                let signed = (complemented as $signed) ^ <$signed>::MIN;
+                let signed = <$signed>::try_from(complemented)?;
+                let signed = signed ^ <$signed>::MIN;
                 Ok(signed)
             }
 
             fn raw(&self) -> String {
                 // signed int is converted to unsigned int that preserves the
                 // order by complementing it with a min value
-                let complemented = (*self ^ <$signed>::MIN) as $unsigned;
+                let complemented =
+                    <$unsigned>::try_from(*self ^ <$signed>::MIN)
+                        .expect("Complemented signed int is zero or positive");
                 complemented.raw()
             }
 
diff --git a/crates/core/src/uint.rs b/crates/core/src/uint.rs
index 3e21dc204b..6990ea052a 100644
--- a/crates/core/src/uint.rs
+++ b/crates/core/src/uint.rs
@@ -184,7 +184,7 @@ impl Uint {
                 q_hat
             } else {
                 // here q_hat >= q_j >= q_hat - 1
-                u64::max_value()
+                u64::MAX
             };
 
             // ex. 20:
diff --git a/crates/merkle_tree/src/lib.rs b/crates/merkle_tree/src/lib.rs
index c6a4e147e5..3465dd15b0 100644
--- a/crates/merkle_tree/src/lib.rs
+++ b/crates/merkle_tree/src/lib.rs
@@ -1422,7 +1422,7 @@ mod test {
                 &value,
             ));
             // for the verification of the base tree
-            value = sub_root.clone();
+            value.clone_from(&sub_root);
         }
         // Check the base root
         assert_eq!(sub_root, tree.root().0);
@@ -1486,7 +1486,7 @@ mod test {
                 &value,
             ));
             // for the verification of the base tree
-            value = sub_root.clone();
+            value.clone_from(&sub_root);
         }
         // Check the base root
         assert_eq!(sub_root, tree.root().0);
diff --git a/crates/namada/src/ledger/mod.rs b/crates/namada/src/ledger/mod.rs
index 3753ca9b77..f4465826ed 100644
--- a/crates/namada/src/ledger/mod.rs
+++ b/crates/namada/src/ledger/mod.rs
@@ -160,8 +160,10 @@ mod test {
         /// tx wasm compilation cache
         pub tx_wasm_cache: TxCache<WasmCacheRoAccess>,
         /// VP wasm compilation cache directory
+        #[allow(dead_code)] // never read
         pub vp_cache_dir: TempDir,
         /// tx wasm compilation cache directory
+        #[allow(dead_code)] // never read
         pub tx_cache_dir: TempDir,
     }
 
diff --git a/crates/node/src/bench_utils.rs b/crates/node/src/bench_utils.rs
index 8053609298..19dccb4f70 100644
--- a/crates/node/src/bench_utils.rs
+++ b/crates/node/src/bench_utils.rs
@@ -672,8 +672,7 @@ pub struct BenchShieldedUtils {
     context_dir: WrapperTempDir,
 }
 
-#[cfg_attr(feature = "async-send", async_trait::async_trait)]
-#[cfg_attr(not(feature = "async-send"), async_trait::async_trait(?Send))]
+#[async_trait::async_trait(?Send)]
 impl ShieldedUtils for BenchShieldedUtils {
     fn local_tx_prover(&self) -> LocalTxProver {
         if let Ok(params_dir) = std::env::var(masp::ENV_VAR_MASP_PARAMS_DIR) {
@@ -768,8 +767,7 @@ impl ShieldedUtils for BenchShieldedUtils {
     }
 }
 
-#[cfg_attr(feature = "async-send", async_trait::async_trait)]
-#[cfg_attr(not(feature = "async-send"), async_trait::async_trait(?Send))]
+#[async_trait::async_trait(?Send)]
 impl Client for BenchShell {
     type Error = std::io::Error;
 
diff --git a/crates/node/src/shell/finalize_block.rs b/crates/node/src/shell/finalize_block.rs
index be1fb8d531..45daa8a41a 100644
--- a/crates/node/src/shell/finalize_block.rs
+++ b/crates/node/src/shell/finalize_block.rs
@@ -5436,9 +5436,7 @@ mod test_finalize_block {
         );
         // Assert that the last tx didn't run
         assert!(
-            inner_results
-                .get(&batch.commitments()[2].get_hash())
-                .is_none()
+            !inner_results.contains_key(&batch.commitments()[2].get_hash())
         );
 
         // Check storage modifications are missing
@@ -5554,9 +5552,7 @@ mod test_finalize_block {
         );
         // Assert that the last tx didn't run
         assert!(
-            inner_results
-                .get(&batch.commitments()[2].get_hash())
-                .is_none()
+            !inner_results.contains_key(&batch.commitments()[2].get_hash())
         );
 
         // Check storage modifications are missing
@@ -5603,9 +5599,7 @@ mod test_finalize_block {
         );
         // Assert that the last tx didn't run
         assert!(
-            inner_results
-                .get(&batch.commitments()[2].get_hash())
-                .is_none()
+            !inner_results.contains_key(&batch.commitments()[2].get_hash())
         );
 
         // Check storage modifications
diff --git a/crates/node/src/shell/mod.rs b/crates/node/src/shell/mod.rs
index 99c98b3ff8..b119c47bcd 100644
--- a/crates/node/src/shell/mod.rs
+++ b/crates/node/src/shell/mod.rs
@@ -1059,7 +1059,7 @@ where
                         response.code = ResultCode::InvalidTx.into();
                         response.log = "The wrapper gas limit overflowed gas \
                                         representation"
-                            .to_owned();
+                            .to_string();
                         return response;
                     }
                 };
diff --git a/crates/node/src/shell/queries.rs b/crates/node/src/shell/queries.rs
index fe9c5d5935..ad9d9bebc2 100644
--- a/crates/node/src/shell/queries.rs
+++ b/crates/node/src/shell/queries.rs
@@ -67,6 +67,7 @@ where
 // NOTE: we are testing `namada::ledger::queries_ext`,
 // which is not possible from `namada` since we do not have
 // access to the `Shell` there
+#[allow(clippy::cast_possible_truncation)]
 #[cfg(test)]
 mod test_queries {
     use namada::core::storage::Epoch;
diff --git a/crates/node/src/shell/testing/node.rs b/crates/node/src/shell/testing/node.rs
index be308531f9..22ad689d5d 100644
--- a/crates/node/src/shell/testing/node.rs
+++ b/crates/node/src/shell/testing/node.rs
@@ -675,8 +675,7 @@ impl MockNode {
     }
 }
 
-#[cfg_attr(feature = "async-send", async_trait::async_trait)]
-#[cfg_attr(not(feature = "async-send"), async_trait::async_trait(?Send))]
+#[async_trait::async_trait(?Send)]
 impl<'a> Client for &'a MockNode {
     type Error = Report;
 
diff --git a/crates/proof_of_stake/src/lib.rs b/crates/proof_of_stake/src/lib.rs
index a6116d6fa9..92326128bc 100644
--- a/crates/proof_of_stake/src/lib.rs
+++ b/crates/proof_of_stake/src/lib.rs
@@ -378,14 +378,6 @@ where
     total_consensus_stake_handle().set(storage, total, epoch, 0)
 }
 
-/// Used below in `fn unbond_tokens` to update the bond and unbond amounts
-#[derive(Eq, Hash, PartialEq)]
-struct BondAndUnbondUpdates {
-    bond_start: Epoch,
-    new_bond_value: token::Change,
-    unbond_value: token::Change,
-}
-
 /// Unbond tokens that are bonded between a validator and a source (self or
 /// delegator).
 ///
diff --git a/crates/sdk/Cargo.toml b/crates/sdk/Cargo.toml
index e9ebe6d6b3..d681124f8e 100644
--- a/crates/sdk/Cargo.toml
+++ b/crates/sdk/Cargo.toml
@@ -17,6 +17,8 @@ version.workspace = true
 [features]
 default = ["tendermint-rpc", "download-params", "std", "rand", "migrations"]
 
+mainnet = ["namada_core/mainnet", "namada_events/mainnet"]
+
 multicore = ["masp_proofs/multicore"]
 
 namada-sdk = ["tendermint-rpc", "masp_primitives/transparent-inputs"]
diff --git a/crates/sdk/src/queries/router.rs b/crates/sdk/src/queries/router.rs
index 5270a859f6..e9adfe622e 100644
--- a/crates/sdk/src/queries/router.rs
+++ b/crates/sdk/src/queries/router.rs
@@ -657,6 +657,14 @@ macro_rules! router_type {
                 // paste the generated methods
                 $( $methods )*
             }
+
+            impl Default for $name {
+                fn default() -> Self {
+                    Self {
+                        prefix: String::new(),
+                    }
+                }
+            }
         }
     };
 
diff --git a/crates/sdk/src/tx.rs b/crates/sdk/src/tx.rs
index d2d4f5691b..d569c24887 100644
--- a/crates/sdk/src/tx.rs
+++ b/crates/sdk/src/tx.rs
@@ -272,10 +272,7 @@ pub async fn process_tx(
 pub async fn is_reveal_pk_needed<C: crate::queries::Client + Sync>(
     client: &C,
     address: &Address,
-) -> Result<bool>
-where
-    C: crate::queries::Client + Sync,
-{
+) -> Result<bool> {
     // Check if PK revealed
     Ok(!has_revealed_pk(client, address).await?)
 }
diff --git a/crates/tests/Cargo.toml b/crates/tests/Cargo.toml
index 6b3f6e07bf..75a2fbc0c9 100644
--- a/crates/tests/Cargo.toml
+++ b/crates/tests/Cargo.toml
@@ -45,8 +45,10 @@ flate2.workspace = true
 hyper = {version = "0.14.20", features = ["full"]}
 ibc-testkit.workspace = true
 ics23.workspace = true
+itertools.workspace = true
 lazy_static.workspace = true
 num-traits.workspace = true
+proptest.workspace = true
 prost.workspace = true
 regex.workspace = true
 serde.workspace = true
@@ -74,10 +76,8 @@ escargot = {workspace = true} # , features = ["print"]}
 expectrl.workspace = true
 eyre.workspace = true
 fs_extra.workspace = true
-itertools.workspace = true
 once_cell.workspace = true
 pretty_assertions.workspace = true
-proptest.workspace = true
 proptest-state-machine.workspace = true
 rand.workspace = true
 tendermint-light-client.workspace = true
diff --git a/crates/tests/src/e2e.rs b/crates/tests/src/e2e.rs
index 10a6f69d6e..b1cfb67a9d 100644
--- a/crates/tests/src/e2e.rs
+++ b/crates/tests/src/e2e.rs
@@ -11,8 +11,8 @@
 //! To keep the temporary files created by a test, use env var
 //! `NAMADA_E2E_KEEP_TEMP=true`.
 
-#[cfg(DISABLED_UNTIL_ERC20_WHITELISTS_IMPLEMENTED)]
-pub mod eth_bridge_tests;
+// Disabled until erc20 whitelists implemented
+// pub mod eth_bridge_tests;
 pub mod helpers;
 pub mod ibc_tests;
 pub mod ledger_tests;
diff --git a/crates/tests/src/native_vp/pos.rs b/crates/tests/src/native_vp/pos.rs
index 57f04c706d..e0d970f11a 100644
--- a/crates/tests/src/native_vp/pos.rs
+++ b/crates/tests/src/native_vp/pos.rs
@@ -574,7 +574,6 @@ mod tests {
 }
 
 /// Testing helpers
-#[cfg(any(test, feature = "testing"))]
 pub mod testing {
 
     use std::cell::RefCell;
diff --git a/docker/namada-wasm/Dockerfile b/docker/namada-wasm/Dockerfile
index 215f9bf231..0dec9b9ba5 100644
--- a/docker/namada-wasm/Dockerfile
+++ b/docker/namada-wasm/Dockerfile
@@ -6,7 +6,7 @@ FROM rust:1.78.0-bookworm
 WORKDIR /__w/namada/namada
 
 # The version should be matching the version set above
-RUN rustup toolchain install 1.76.0 --profile minimal
+RUN rustup toolchain install 1.78.0 --profile minimal
 RUN rustup target add wasm32-unknown-unknown
 
 RUN apt-get update && apt-get install -y \
diff --git a/docker/namada/Dockerfile b/docker/namada/Dockerfile
index 2616be740b..2ed5b2e2ec 100644
--- a/docker/namada/Dockerfile
+++ b/docker/namada/Dockerfile
@@ -1,4 +1,4 @@
-FROM lukemathwalker/cargo-chef:latest-rust-1.78.0-bookwork AS chef
+FROM lukemathwalker/cargo-chef:latest-rust-1.78.0-bookworm AS chef
 WORKDIR /app
 
 FROM chef AS planner
diff --git a/rust-nightly-version b/rust-nightly-version
index 2dbd8cea78..d7d44f19cb 100644
--- a/rust-nightly-version
+++ b/rust-nightly-version
@@ -1 +1 @@
-nightly-2024-02-10
+nightly-2024-05-15
diff --git a/rust-toolchain.toml b/rust-toolchain.toml
index f537877896..30fa9c3717 100644
--- a/rust-toolchain.toml
+++ b/rust-toolchain.toml
@@ -1,4 +1,4 @@
 [toolchain]
-channel = "1.76.0"
+channel = "1.78.0"
 components = ["rustc", "cargo", "rust-std", "rust-docs", "rls", "rust-src", "rust-analysis"]
 targets = ['wasm32-unknown-unknown']
\ No newline at end of file
diff --git a/wasm/Cargo.lock b/wasm/Cargo.lock
index ed08dd9f93..e8d2fab2a2 100644
--- a/wasm/Cargo.lock
+++ b/wasm/Cargo.lock
@@ -4063,6 +4063,7 @@ dependencies = [
  "hyper",
  "ibc-testkit",
  "ics23",
+ "itertools 0.12.1",
  "lazy_static",
  "namada",
  "namada_core",
@@ -4071,6 +4072,7 @@ dependencies = [
  "namada_tx_prelude",
  "namada_vp_prelude",
  "num-traits 0.2.17",
+ "proptest",
  "prost",
  "regex",
  "serde",
@@ -4121,7 +4123,7 @@ dependencies = [
  "namada_gas",
  "namada_macros",
  "namada_migrations",
- "num-derive 0.3.3",
+ "num-derive 0.4.2",
  "num-traits 0.2.17",
  "proptest",
  "prost",
diff --git a/wasm/rust-toolchain.toml b/wasm/rust-toolchain.toml
index 16235b717f..ef9f0f467d 100644
--- a/wasm/rust-toolchain.toml
+++ b/wasm/rust-toolchain.toml
@@ -1,3 +1,3 @@
 [toolchain]
-channel = "1.76.0"
+channel = "1.78.0"
 components = ["rustc", "cargo", "rust-std", "rust-docs", "rls", "rust-analysis"]
diff --git a/wasm_for_tests/Cargo.lock b/wasm_for_tests/Cargo.lock
index d5d7377393..29ec324ea3 100644
--- a/wasm_for_tests/Cargo.lock
+++ b/wasm_for_tests/Cargo.lock
@@ -4012,6 +4012,7 @@ dependencies = [
  "hyper",
  "ibc-testkit",
  "ics23",
+ "itertools 0.12.1",
  "lazy_static",
  "namada",
  "namada_core",
@@ -4020,6 +4021,7 @@ dependencies = [
  "namada_tx_prelude",
  "namada_vp_prelude",
  "num-traits 0.2.17",
+ "proptest",
  "prost",
  "regex",
  "serde",
@@ -4068,7 +4070,7 @@ dependencies = [
  "namada_events",
  "namada_gas",
  "namada_macros",
- "num-derive 0.3.3",
+ "num-derive 0.4.2",
  "num-traits 0.2.17",
  "proptest",
  "prost",