diff --git a/moonworm/cli.py b/moonworm/cli.py
index dfc6739..b367783 100644
--- a/moonworm/cli.py
+++ b/moonworm/cli.py
@@ -172,7 +172,7 @@ def handle_watch(args: argparse.Namespace) -> None:
                 watch_contract(
                     web3=web3,
                     state_provider=state_provider,
-                    contract_address=web3.toChecksumAddress(args.contract),
+                    contract_address=web3.to_checksum_address(args.contract),
                     contract_abi=contract_abi,
                     num_confirmations=args.confirmations,
                     start_block=args.start,
@@ -186,7 +186,7 @@ def handle_watch(args: argparse.Namespace) -> None:
         watch_contract(
             web3=web3,
             state_provider=Web3StateProvider(web3),
-            contract_address=web3.toChecksumAddress(args.contract),
+            contract_address=web3.to_checksum_address(args.contract),
             contract_abi=contract_abi,
             num_confirmations=args.confirmations,
             start_block=args.start,
@@ -418,7 +418,7 @@ def generate_argument_parser() -> argparse.ArgumentParser:
     find_deployment_parser.add_argument(
         "-c",
         "--contract",
-        type=Web3.toChecksumAddress,
+        type=Web3.to_checksum_address,
         required=True,
         help="Contract address",
     )
diff --git a/moonworm/crawler/ethereum_state_provider.py b/moonworm/crawler/ethereum_state_provider.py
index c584074..675e6a5 100644
--- a/moonworm/crawler/ethereum_state_provider.py
+++ b/moonworm/crawler/ethereum_state_provider.py
@@ -62,7 +62,7 @@ class Web3StateProvider(EthereumStateProvider):
     def _get_block(self, block_number: int) -> Dict[str, Any]:
         if block_number in self.blocks_cache:
             return self.blocks_cache[block_number]
-        block = self.w3.eth.getBlock(block_number, full_transactions=True)
+        block = self.w3.eth.get_block(block_number, full_transactions=True)
 
         # clear cache if it grows too large
         if len(self.blocks_cache) > 50:
diff --git a/moonworm/crawler/function_call_crawler.py b/moonworm/crawler/function_call_crawler.py
index 2ac2f3d..b393563 100644
--- a/moonworm/crawler/function_call_crawler.py
+++ b/moonworm/crawler/function_call_crawler.py
@@ -111,7 +111,7 @@ def utfy_dict(dic):
         return dic
 
     elif isinstance(dic, bytes):
-        return Web3.toHex(dic)
+        return Web3.to_hex(dic)
 
     elif isinstance(dic, tuple):
         return tuple(utfy_dict(x) for x in dic)
@@ -148,7 +148,7 @@ class FunctionCallCrawler:
         self.contract = Web3().eth.contract(abi=self.contract_abi)
         self.on_decode_error = on_decode_error
         self.whitelisted_methods = {
-            Web3.toHex(function_abi_to_4byte_selector(a)) for a in self.contract_abi
+            Web3.to_hex(function_abi_to_4byte_selector(a)) for a in self.contract_abi
         }
 
     def process_transaction(self, transaction: Dict[str, Any]):
diff --git a/moonworm/crawler/log_scanner.py b/moonworm/crawler/log_scanner.py
index 7982770..3cd9a04 100644
--- a/moonworm/crawler/log_scanner.py
+++ b/moonworm/crawler/log_scanner.py
@@ -3,7 +3,8 @@ import datetime
 import json
 import logging
 import time
-from typing import Any, Callable, Dict, Iterable, List, Optional, Tuple
+from typing import Any, Callable, Dict, Iterable, List, Optional, Tuple, Union
+import traceback
 
 from eth_abi.codec import ABICodec
 from eth_typing.evm import ChecksumAddress
@@ -113,7 +114,7 @@ def _fetch_events_chunk(
             raw_event = get_event_data(codec, event_abi, log)
             event = {
                 "event": raw_event["event"],
-                "args": json.loads(Web3.toJSON(utfy_dict(dict(raw_event["args"])))),
+                "args": json.loads(Web3.to_json(utfy_dict(dict(raw_event["args"])))),
                 "address": raw_event["address"],
                 "blockNumber": raw_event["blockNumber"],
                 "transactionHash": raw_event["transactionHash"].hex(),
@@ -195,7 +196,7 @@ class EventScanner:
         self.checksum_addresses = []
         if addresses:
             for address in addresses:
-                self.checksum_addresses.append(web3.toChecksumAddress(address))
+                self.checksum_addresses.append(web3.to_checksum_address(address))
 
         # Our JSON-RPC throttling parameters
         self.min_scan_chunk_size = 10  # 12 s/block = 120 seconds period
@@ -216,7 +217,7 @@ class EventScanner:
             # Returning None since, config set to skip getting block timestamp data
             return None
         try:
-            block_info = self.web3.eth.getBlock(block_num)
+            block_info = self.web3.eth.get_block(block_num)
         except BlockNotFound:
             # Block was not mined yet,
             # minor chain reorganisation?
@@ -247,13 +248,24 @@ class EventScanner:
         return self.web3.eth.blockNumber - 1
 
     def get_last_scanned_block(self) -> int:
+        """Get the last scanned block number."""
+
+        if self.state is None:
+            return 0
+
         return self.state.get_last_scanned_block()
 
     def delete_potentially_forked_block_data(self, after_block: int):
         """Purge old data in the case of blockchain reorganisation."""
+
+        if self.state is None:
+            return
+
         self.state.delete_data(after_block)
 
-    def estimate_next_chunk_size(self, current_chuck_size: int, event_found_count: int):
+    def estimate_next_chunk_size(
+        self, current_chuck_size: Union[int, float], event_found_count: int
+    ):
         """Try to figure out optimal chunk size
 
         Our scanner might need to scan the whole blockchain for all events
@@ -343,6 +355,8 @@ class EventScanner:
                     evt["event"],
                     evt["blockNumber"],
                 )
+                if self.state is None:
+                    raise Exception("State is not initialized")
                 processed = self.state.process_event(block_when, evt)
                 all_processed.append(processed)
 
@@ -377,14 +391,16 @@ class EventScanner:
 
         # Scan in chunks, commit between
         chunk_size = start_chunk_size
-        last_scan_duration = last_logs_found = 0
+        last_scan_duration = last_logs_found = 0.0
         total_chunks_scanned = 0
 
         # All processed entries we got on this scan cycle
         all_processed = []
 
         while current_block <= end_block:
-            self.state.start_chunk(current_block, chunk_size)
+            if self.state is None:
+                raise Exception("State is not initialized")
+            self.state.start_chunk(current_block, chunk_size)  # type: ignore
 
             # Print some diagnostics to logs to try to fiddle with real world JSON-RPC API performance
             estimated_end_block = current_block + chunk_size
diff --git a/moonworm/crawler/moonstream_ethereum_state_provider.py b/moonworm/crawler/moonstream_ethereum_state_provider.py
index 620c047..7875c95 100644
--- a/moonworm/crawler/moonstream_ethereum_state_provider.py
+++ b/moonworm/crawler/moonstream_ethereum_state_provider.py
@@ -149,7 +149,7 @@ class MoonstreamEthereumStateProvider(EthereumStateProvider):
         block = self._get_block_from_db(block_number)
         if block is None:
             logger.debug(f"{log_prefix} - not found in db or cache, fetching from web3")
-            block = self.w3.eth.getBlock(block_number, full_transactions=True)
+            block = self.w3.eth.get_block(block_number, full_transactions=True)
             self.metrics["web3_get_block_calls"] += 1
         else:
             logger.debug(f"{log_prefix} - found in db")
diff --git a/moonworm/generators/cli.py.template b/moonworm/generators/cli.py.template
index c13a50a..8270c42 100644
--- a/moonworm/generators/cli.py.template
+++ b/moonworm/generators/cli.py.template
@@ -33,7 +33,7 @@ def init_web3(ipc_path: str) -> Web3:
 def init_contract(web3: Web3, abi: Dict[str, Any], address: Optional[str]) -> Contract:
     checksum_address: Optional[ChecksumAddress] = None
     if address is not None:
-        checksum_address = web3.toChecksumAddress(address)
+        checksum_address = web3.to_checksum_address(address)
     return web3.eth.contract(address=checksum_address, abi=abi)
 
 def make_function_call(contract: Contract, function_name: str, *args):
@@ -102,7 +102,7 @@ def handle_args(args: argparse.Namespace):
         if args.contract_address is None:
             print("Contract address was not passed from arguments")
             args.contract_address = input("Enter contract address you want to call: ")
-        contract_address = web3.toChecksumAddress(args.contract_address)
+        contract_address = web3.to_checksum_address(args.contract_address)
         contract = web3.eth.contract(address=contract_address, abi=CONTRACT_ABI)
         function_name = kwargs["function_name"]
         del kwargs["function_name"]
@@ -116,7 +116,7 @@ def handle_args(args: argparse.Namespace):
         if args.contract_address is None:
             print("Contract address was not passed from arguments")
             args.contract_address = input("Enter contract address you want to transact: ")
-        contract_address = web3.toChecksumAddress(args.contract_address)
+        contract_address = web3.to_checksum_address(args.contract_address)
         contract = web3.eth.contract(address=contract_address, abi=CONTRACT_ABI)
         function_name = kwargs["function_name"]
         del kwargs["function_name"]
@@ -153,7 +153,7 @@ def handle_args(args: argparse.Namespace):
             deployer_private_key=pk,
             constructor_arguments=constructor_args,
         )
-        print(f"Tx hash of deployment: {{web3.toHex(tx_hash)}}")
+        print(f"Tx hash of deployment: {{web3.to_hex(tx_hash)}}")
         print(f"Address of deployed_contract: {{contract_address}}")
 
 def main() -> None:
diff --git a/moonworm/generators/contract.py.template b/moonworm/generators/contract.py.template
index 6a6bda2..5e68536 100644
--- a/moonworm/generators/contract.py.template
+++ b/moonworm/generators/contract.py.template
@@ -6,7 +6,7 @@ from typing import Any, Dict, Union
 
 from eth_typing.evm import Address, ChecksumAddress
 from web3 import Web3
-from web3.contract import ContractFunction
+from web3.contract.contract import ContractFunction
 
 from .web3_util import *
 
diff --git a/moonworm/version.py b/moonworm/version.py
index af16777..2709226 100644
--- a/moonworm/version.py
+++ b/moonworm/version.py
@@ -1 +1 @@
-MOONWORM_VERSION = "0.6.2"
+MOONWORM_VERSION = "0.7.0"
diff --git a/moonworm/watch.py b/moonworm/watch.py
index dd2f163..7009099 100644
--- a/moonworm/watch.py
+++ b/moonworm/watch.py
@@ -119,13 +119,13 @@ def watch_contract(
         state,
         state_provider,
         contract_abi,
-        [web3.toChecksumAddress(contract_address)],
+        [web3.to_checksum_address(contract_address)],
     )
 
     event_abis = [item for item in contract_abi if item["type"] == "event"]
 
     if start_block is None:
-        current_block = web3.eth.blockNumber - num_confirmations * 2
+        current_block = web3.eth.block_number - num_confirmations * 2
     else:
         current_block = start_block
 
@@ -139,7 +139,7 @@ def watch_contract(
         while end_block is None or current_block <= end_block:
             time.sleep(sleep_time)
             until_block = min(
-                web3.eth.blockNumber - num_confirmations,
+                web3.eth.block_number - num_confirmations,
                 current_block + current_batch_size,
             )
             if end_block is not None:
diff --git a/moonworm/web3_util.py b/moonworm/web3_util.py
index f777da2..45235cf 100644
--- a/moonworm/web3_util.py
+++ b/moonworm/web3_util.py
@@ -7,7 +7,8 @@ from eth_account.account import Account  # type: ignore
 from eth_typing.evm import ChecksumAddress
 from hexbytes.main import HexBytes
 from web3 import Web3
-from web3.contract import Contract, ContractFunction
+from web3.contract import Contract
+from web3.contract.contract import ContractFunction
 from web3.providers.ipc import IPCProvider
 from web3.providers.rpc import HTTPProvider
 from web3.types import ABI, Nonce, TxParams, TxReceipt, Wei
@@ -33,7 +34,7 @@ def build_transaction(
     - maxPriorityFeePerGas: Optional the part of the fee that goes to the miner
     """
 
-    transaction = builder.buildTransaction(
+    transaction = builder.build_transaction(
         {
             "from": sender,
             "nonce": get_nonce(web3, sender),
@@ -105,7 +106,7 @@ def deploy_contract(
     transaction_hash = submit_transaction(web3, transaction, deployer_private_key)
     transaction_receipt = wait_for_transaction_receipt(web3, transaction_hash)
     contract_address = transaction_receipt.contractAddress
-    return transaction_hash, web3.toChecksumAddress(contract_address)
+    return transaction_hash, web3.to_checksum_address(contract_address)
 
 
 def deploy_contract_from_constructor_function(
@@ -134,7 +135,7 @@ def deploy_contract_from_constructor_function(
     transaction_hash = submit_transaction(web3, transaction, deployer_private_key)
     transaction_receipt = wait_for_transaction_receipt(web3, transaction_hash)
     contract_address = transaction_receipt.contractAddress
-    return transaction_hash, web3.toChecksumAddress(contract_address)
+    return transaction_hash, web3.to_checksum_address(contract_address)
 
 
 def decode_transaction_input(web3: Web3, transaction_input: str, abi: Dict[str, Any]):
@@ -145,7 +146,7 @@ def decode_transaction_input(web3: Web3, transaction_input: str, abi: Dict[str,
 def read_keys_from_cli() -> Tuple[ChecksumAddress, str]:
     private_key = getpass.getpass(prompt="Enter private key of your address:")
     account = Account.from_key(private_key)
-    return (Web3.toChecksumAddress(account.address), private_key)
+    return (Web3.to_checksum_address(account.address), private_key)
 
 
 def read_keys_from_env() -> Tuple[ChecksumAddress, str]:
@@ -156,7 +157,7 @@ def read_keys_from_env() -> Tuple[ChecksumAddress, str]:
         )
     try:
         account = Account.from_key(private_key)
-        return (Web3.toChecksumAddress(account.address), private_key)
+        return (Web3.to_checksum_address(account.address), private_key)
     except:
         raise ValueError(
             "Failed to initiate account from MOONWORM_ETHEREUM_ADDRESS_PRIVATE_KEY"
@@ -193,7 +194,7 @@ def cast_to_python_type(evm_type: str) -> Callable:
     elif evm_type == "string":
         return str
     elif evm_type == "address":
-        return Web3.toChecksumAddress
+        return Web3.to_checksum_address
     elif evm_type == "bool":
         return bool
     else:
diff --git a/setup.py b/setup.py
index 8f35043..f73a26d 100644
--- a/setup.py
+++ b/setup.py
@@ -18,7 +18,7 @@ setup(
         "pysha3<2.0.0,>=1.0.0",
         "tqdm",
         "typing-extensions",
-        "web3>=5.27.0",
+        "web3>=6.1.0",
     ],
     extras_require={
         "dev": ["isort", "mypy", "wheel", "web3>=5.27.0"],