diff --git a/Cargo.lock b/Cargo.lock
index b6b0193..8c78a90 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -2930,7 +2930,7 @@ checksum = "0206175f82b8d6bf6652ff7d71a1e27fd2e4efde587fd368662814d6ec1d9ce0"
 name = "example-l2"
 version = "0.1.0"
 dependencies = [
- "ark-serialize 0.3.0",
+ "ark-serialize 0.4.2",
  "async-compatibility-layer 1.0.0 (git+https://github.com/EspressoSystems/async-compatibility-layer)",
  "async-std",
  "clap",
diff --git a/Cargo.toml b/Cargo.toml
index e569e92..1b9952a 100644
--- a/Cargo.toml
+++ b/Cargo.toml
@@ -7,7 +7,7 @@ license = "MIT"
 # See more keys and their definitions at https://doc.rust-lang.org/cargo/reference/manifest.html
 
 [dependencies]
-ark-serialize = { version = "0.3.0", features = ["derive"] }
+ark-serialize = { version = "0.4.2", features = ["derive"] }
 async-compatibility-layer = { git = "https://github.com/EspressoSystems/async-compatibility-layer" }
 async-std = { version = "1.12", features = ["attributes"] }
 clap = "4.3.10"