diff --git a/setup.py b/setup.py
index 00e88663..8301a524 100644
--- a/setup.py
+++ b/setup.py
@@ -14,14 +14,14 @@
         "bumpversion==0.5.3",
         "pytest==5.3.5",
         "click==7.0",
-        "twine==1.12.1",
+        "twine==3.1.1",
         "mock==4.0.1",
         "when-changed",
         "Random-Word==1.0.4",
         "pytest-cov==2.8.1"
     ],
     'hw-wallet': [
-        "ledgerblue==0.1.29"
+        "ledgerblue==0.1.31"
     ]
 }
 
@@ -39,7 +39,7 @@
     url='https://github.com/skalenetwork/skale.py',
     include_package_data=True,
     install_requires=[
-        "web3==5.2.2",
+        "web3==5.5.1",
         "asyncio==3.4.3",
         "pyyaml==5.1.2",
         "sgx.py>=0.4dev3",
diff --git a/skale/manager_client.py b/skale/manager_client.py
index 443f9c0b..b2b62c3b 100644
--- a/skale/manager_client.py
+++ b/skale/manager_client.py
@@ -41,9 +41,9 @@ def spawn_skale_lib(skale):
 
 
 class Skale:
-    def __init__(self, endpoint, abi_filepath, wallet=None):
+    def __init__(self, endpoint, abi_filepath, wallet=None, provider_timeout=30):
         logger.info(f'Init skale-py, connecting to {endpoint}')
-        provider = get_provider(endpoint)
+        provider = get_provider(endpoint, timeout=provider_timeout)
         self._abi_filepath = abi_filepath
         self._endpoint = endpoint
         self.web3 = Web3(provider)
diff --git a/skale/utils/web3_utils.py b/skale/utils/web3_utils.py
index ba51b139..39c78690 100644
--- a/skale/utils/web3_utils.py
+++ b/skale/utils/web3_utils.py
@@ -33,12 +33,20 @@ class TransactionFailedError(Exception):
     pass
 
 
-def get_provider(endpoint):
+WS_MAX_MESSAGE_DATA_BYTES = 5 * 1024 * 1024
+
+
+def get_provider(endpoint, timeout=10, request_kwargs={}):
     scheme = urlparse(endpoint).scheme
     if scheme == 'ws' or scheme == 'wss':
-        return WebsocketProvider(endpoint)
+        kwargs = request_kwargs or {'max_size': WS_MAX_MESSAGE_DATA_BYTES}
+        return WebsocketProvider(endpoint, websocket_timeout=timeout,
+                                 websocket_kwargs=kwargs)
+
     if scheme == 'http' or scheme == 'https':
-        return HTTPProvider(endpoint)
+        kwargs = {'timeout': timeout, **request_kwargs}
+        return HTTPProvider(endpoint, request_kwargs=kwargs)
+
     raise Exception(
         'Wrong endpoint option.'
         'Supported endpoint schemes: http/https/ws/wss'
diff --git a/tests/constants.py b/tests/constants.py
index 9ab00eb0..e04af0b0 100644
--- a/tests/constants.py
+++ b/tests/constants.py
@@ -32,6 +32,8 @@
 N_TEST_WALLETS = 2
 
 ENDPOINT = os.environ['ENDPOINT']
+
+
 TEST_ABI_FILEPATH = os.path.join(DIR_PATH, os.pardir, 'test_abi.json')
 ETH_PRIVATE_KEY = os.environ['ETH_PRIVATE_KEY']
 
diff --git a/tests/main_test.py b/tests/main_test.py
index da3a02fa..ba7c4552 100644
--- a/tests/main_test.py
+++ b/tests/main_test.py
@@ -16,7 +16,7 @@
 def test_lib_init():
     web3 = init_web3(ENDPOINT)
     wallet = Web3Wallet(ETH_PRIVATE_KEY, web3)
-    skale = Skale(ENDPOINT, TEST_ABI_FILEPATH, wallet)
+    skale = Skale(ENDPOINT, TEST_ABI_FILEPATH, wallet, provider_timeout=20)
 
     lib_contracts = skale._Skale__contracts
     assert len(lib_contracts) == len(CONTRACTS_INFO)
@@ -26,15 +26,18 @@ def test_lib_init():
         assert lib_contract.address is not None
         assert int(lib_contract.address, 16) != 0
         assert web3.eth.getCode(lib_contract.address)
+        assert skale.web3.provider._request_kwargs == {'timeout': 20}
 
-    provider = skale.web3.provider
-    assert isinstance(provider, WebsocketProvider) or isinstance(provider, HTTPProvider)
+    isinstance(skale.web3.provider, HTTPProvider)
 
-    http_endpoint = 'http://localhost:8080'
+    ws_endpoint = 'ws://localhost:8080'
     with mock.patch.object(Skale, '_Skale__init_contracts'):
-        skale = Skale(http_endpoint, TEST_ABI_FILEPATH, wallet)
-        provider = skale.web3.provider
-        assert isinstance(provider, HTTPProvider)
+        skale = Skale(ws_endpoint, TEST_ABI_FILEPATH, wallet)
+        assert skale.web3.provider.websocket_timeout == 30
+        assert skale.web3.provider.conn.websocket_kwargs == {
+            'max_size': 5 * 1024 * 1024
+        }
+        assert isinstance(skale.web3.provider, WebsocketProvider)
 
     file_endpoint = 'file://local_file:1001'
     with pytest.raises(Exception):