diff --git a/Cargo.lock b/Cargo.lock
index 24854371e3d..978d56caa35 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -4,11 +4,11 @@ version = 3
 
 [[package]]
 name = "addr2line"
-version = "0.21.0"
+version = "0.22.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "8a30b2e23b9e17a9f90641c7ab1549cd9b44f296d3ccbf309d2863cfe398a0cb"
+checksum = "6e4503c46a5c0c7844e948c9a4d6acd9f50cccb4de1c48eb9e291ea17470c678"
 dependencies = [
- "gimli 0.28.1",
+ "gimli 0.29.0",
 ]
 
 [[package]]
@@ -314,7 +314,7 @@ dependencies = [
  "cfg-if",
  "libc",
  "miniz_oxide",
- "object 0.36.4",
+ "object",
  "rustc-demangle",
  "windows-targets 0.52.6",
 ]
@@ -752,6 +752,12 @@ dependencies = [
  "winapi",
 ]
 
+[[package]]
+name = "cobs"
+version = "0.2.3"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "67ba02a97a2bd10f4b59b25c7973101c79642302776489e030cd13cdab09ed15"
+
 [[package]]
 name = "colorchoice"
 version = "1.0.2"
@@ -829,9 +835,9 @@ checksum = "773648b94d0e5d620f64f280777445740e61fe701025087ec8b57f45c791888b"
 
 [[package]]
 name = "cpp_demangle"
-version = "0.3.5"
+version = "0.4.4"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "eeaa953eaad386a53111e47172c2fedba671e5684c8dd601a5f474f4f118710f"
+checksum = "96e58d342ad113c2b878f16d5d034c03be492ae460cdbc02b7f0f2284d310c7d"
 dependencies = [
  "cfg-if",
 ]
@@ -847,73 +853,86 @@ dependencies = [
 
 [[package]]
 name = "cranelift-bforest"
-version = "0.102.1"
+version = "0.112.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "8e7e56668d2263f92b691cb9e4a2fcb186ca0384941fe420484322fa559c3329"
+checksum = "7b765ed4349e66bedd9b88c7691da42e24c7f62067a6be17ddffa949367b6e17"
 dependencies = [
  "cranelift-entity",
 ]
 
+[[package]]
+name = "cranelift-bitset"
+version = "0.112.2"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "9eaa2aece6237198afd32bff57699e08d4dccb8d3902c214fc1e6ba907247ca4"
+dependencies = [
+ "serde",
+ "serde_derive",
+]
+
 [[package]]
 name = "cranelift-codegen"
-version = "0.102.1"
+version = "0.112.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "2a9ff61938bf11615f55b80361288c68865318025632ea73c65c0b44fa16283c"
+checksum = "351824439e59d42f0e4fa5aac1d13deded155120043565769e55cd4ad3ca8ed9"
 dependencies = [
  "bumpalo",
  "cranelift-bforest",
+ "cranelift-bitset",
  "cranelift-codegen-meta",
  "cranelift-codegen-shared",
  "cranelift-control",
  "cranelift-entity",
  "cranelift-isle",
- "gimli 0.28.1",
+ "gimli 0.29.0",
  "hashbrown 0.14.5",
  "log",
  "regalloc2",
+ "rustc-hash",
  "smallvec",
  "target-lexicon",
 ]
 
 [[package]]
 name = "cranelift-codegen-meta"
-version = "0.102.1"
+version = "0.112.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "50656bf19e3d4a153b404ff835b8b59e924cfa3682ebe0d3df408994f37983f6"
+checksum = "5a0ce0273d7a493ef8f31f606849a4e931c19187a4923f5f87fc1f2b13109981"
 dependencies = [
  "cranelift-codegen-shared",
 ]
 
 [[package]]
 name = "cranelift-codegen-shared"
-version = "0.102.1"
+version = "0.112.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "388041deeb26109f1ea73c1812ea26bfd406c94cbce0bb5230aa44277e43b209"
+checksum = "0f72016ac35579051913f4f07f6b36c509ed69412d852fd44c8e1d7b7fa6d92a"
 
 [[package]]
 name = "cranelift-control"
-version = "0.102.1"
+version = "0.112.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "b39b7c512ffac527e5b5df9beae3d67ab85d07dca6d88942c16195439fedd1d3"
+checksum = "db28951d21512c4fd0554ef179bfb11e4eb6815062957a9173824eee5de0c46c"
 dependencies = [
  "arbitrary",
 ]
 
 [[package]]
 name = "cranelift-entity"
-version = "0.102.1"
+version = "0.112.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "fdb25f573701284fe2bcf88209d405342125df00764b396c923e11eafc94d892"
+checksum = "14ebe592a2f81af9237cf9be29dd3854ecb72108cfffa59e85ef12389bf939e3"
 dependencies = [
+ "cranelift-bitset",
  "serde",
  "serde_derive",
 ]
 
 [[package]]
 name = "cranelift-frontend"
-version = "0.102.1"
+version = "0.112.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "e57374fd11d72cf9ffb85ff64506ed831440818318f58d09f45b4185e5e9c376"
+checksum = "4437db9d60c7053ac91ded0802740c2ccf123ee6d6898dd906c34f8c530cd119"
 dependencies = [
  "cranelift-codegen",
  "log",
@@ -923,15 +942,15 @@ dependencies = [
 
 [[package]]
 name = "cranelift-isle"
-version = "0.102.1"
+version = "0.112.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "ae769b235f6ea2f86623a3ff157cc04a4ff131dc9fe782c2ebd35f272043581e"
+checksum = "230cb33572b9926e210f2ca28145f2bc87f389e1456560932168e2591feb65c1"
 
 [[package]]
 name = "cranelift-native"
-version = "0.102.1"
+version = "0.112.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "3dc7bfb8f13a0526fe20db338711d9354729b861c336978380bb10f7f17dd207"
+checksum = "364524ac7aef7070b1141478724abebeec297d4ea1e87ad8b8986465e91146d9"
 dependencies = [
  "cranelift-codegen",
  "libc",
@@ -940,14 +959,14 @@ dependencies = [
 
 [[package]]
 name = "cranelift-wasm"
-version = "0.102.1"
+version = "0.112.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "2c5f41a4af931b756be05af0dd374ce200aae2d52cea16b0beb07e8b52732c35"
+checksum = "0572cbd9d136a62c0f39837b6bce3b0978b96b8586794042bec0c214668fd6f5"
 dependencies = [
  "cranelift-codegen",
  "cranelift-entity",
  "cranelift-frontend",
- "itertools 0.10.5",
+ "itertools 0.12.1",
  "log",
  "smallvec",
  "wasmparser",
@@ -1343,6 +1362,18 @@ dependencies = [
  "serde",
 ]
 
+[[package]]
+name = "embedded-io"
+version = "0.4.0"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "ef1a6892d9eef45c8fa6b9e0086428a2cca8491aca8f787c534a3d6d0bcb3ced"
+
+[[package]]
+name = "embedded-io"
+version = "0.6.1"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "edd0f118536f44f5ccd48bcb8b111bdc3de888b58c74639dfb034a357d0f206d"
+
 [[package]]
 name = "encode_unicode"
 version = "0.3.6"
@@ -1746,9 +1777,9 @@ dependencies = [
 
 [[package]]
 name = "gimli"
-version = "0.28.1"
+version = "0.29.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "4271d37baee1b8c7e4b708028c57d816cf9d2434acb33a549475f78c181f6253"
+checksum = "40ecd4077b5ae9fd2e9e169b102c6c330d0605168eb0e8bf79952b256dbefffd"
 dependencies = [
  "fallible-iterator 0.3.0",
  "indexmap 2.6.0",
@@ -1805,15 +1836,6 @@ dependencies = [
  "ahash 0.7.8",
 ]
 
-[[package]]
-name = "hashbrown"
-version = "0.13.2"
-source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "43a3c133739dddd0d2990f9a4bdf8eb4b21ef50e4851ca85ab661199821d510e"
-dependencies = [
- "ahash 0.8.11",
-]
-
 [[package]]
 name = "hashbrown"
 version = "0.14.5"
@@ -1822,6 +1844,7 @@ checksum = "e5274423e17b7c9fc20b6e7e208532f9b19825d82dfd615708b70edd83df41f1"
 dependencies = [
  "ahash 0.8.11",
  "allocator-api2",
+ "serde",
 ]
 
 [[package]]
@@ -2132,6 +2155,12 @@ dependencies = [
  "cc",
 ]
 
+[[package]]
+name = "id-arena"
+version = "2.2.1"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "25a2bc672d1148e28034f176e01fffebb08b35768468cc954630da77a1449005"
+
 [[package]]
 name = "ident_case"
 version = "1.0.1"
@@ -2455,10 +2484,10 @@ dependencies = [
 ]
 
 [[package]]
-name = "mach"
-version = "0.3.2"
+name = "mach2"
+version = "0.4.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "b823e83b2affd8f40a9ee8c29dbc56404c1e34cd2710921f2801e2cf29527afa"
+checksum = "19b955cdeb2a02b9117f121ce63aa52d08ade45de53e48fe6a38b39c10f6f709"
 dependencies = [
  "libc",
 ]
@@ -2518,15 +2547,6 @@ dependencies = [
  "libc",
 ]
 
-[[package]]
-name = "memoffset"
-version = "0.9.1"
-source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "488016bfae457b036d996092f6cb448677611ce4449e970ceaf42695203f218a"
-dependencies = [
- "autocfg",
-]
-
 [[package]]
 name = "mimalloc"
 version = "0.1.43"
@@ -2743,9 +2763,9 @@ checksum = "830b246a0e5f20af87141b25c173cd1b609bd7779a4617d6ec582abaf90870f3"
 
 [[package]]
 name = "object"
-version = "0.32.2"
+version = "0.36.4"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "a6a622008b6e321afc04970976f62ee297fdbaa6f95318ca343e3eebb9648441"
+checksum = "084f1a5821ac4c651660a94a7153d27ac9d8a53736203f58b31945ded098070a"
 dependencies = [
  "crc32fast",
  "hashbrown 0.14.5",
@@ -2753,15 +2773,6 @@ dependencies = [
  "memchr",
 ]
 
-[[package]]
-name = "object"
-version = "0.36.4"
-source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "084f1a5821ac4c651660a94a7153d27ac9d8a53736203f58b31945ded098070a"
-dependencies = [
- "memchr",
-]
-
 [[package]]
 name = "once_cell"
 version = "1.19.0"
@@ -3077,6 +3088,18 @@ dependencies = [
  "plotters-backend",
 ]
 
+[[package]]
+name = "postcard"
+version = "1.0.10"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "5f7f0a8d620d71c457dd1d47df76bb18960378da56af4527aaa10f515eee732e"
+dependencies = [
+ "cobs",
+ "embedded-io 0.4.0",
+ "embedded-io 0.6.1",
+ "serde",
+]
+
 [[package]]
 name = "postgres-derive"
 version = "0.4.6"
@@ -3484,11 +3507,11 @@ dependencies = [
 
 [[package]]
 name = "regalloc2"
-version = "0.9.3"
+version = "0.10.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "ad156d539c879b7a24a363a2016d77961786e71f48f2e2fc8302a92abd2429a6"
+checksum = "12908dbeb234370af84d0579b9f68258a0f67e201412dd9a2814e6f45b2fc0f0"
 dependencies = [
- "hashbrown 0.13.2",
+ "hashbrown 0.14.5",
  "log",
  "rustc-hash",
  "slice-group-by",
@@ -3730,9 +3753,9 @@ checksum = "719b953e2095829ee67db738b3bfa9fa368c94900df327b3f07fe6e794d2fe1f"
 
 [[package]]
 name = "rustc-hash"
-version = "1.1.0"
+version = "2.0.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "08d43f7aa6b08d49f382cde6a7982047c3426db949b1424bc4b7ec9ae12c6ce2"
+checksum = "583034fd73374156e66797ed8e5b0d5690409c9226b22d87cb7f19821c05d152"
 
 [[package]]
 name = "rustc_version"
@@ -4233,6 +4256,9 @@ name = "smallvec"
 version = "1.13.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "3c5e1a9a646d36c3599cd173a41282daf47c44583ad367b8e6837255952e5c67"
+dependencies = [
+ "serde",
+]
 
 [[package]]
 name = "socket2"
@@ -6065,9 +6091,9 @@ checksum = "c62a0a307cb4a311d3a07867860911ca130c3494e8c2719593806c08bc5d0484"
 
 [[package]]
 name = "wasm-encoder"
-version = "0.36.2"
+version = "0.217.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "822b645bf4f2446b949776ffca47e2af60b167209ffb70814ef8779d299cd421"
+checksum = "7b88b0814c9a2b323a9b46c687e726996c255ac8b64aa237dd11c81ed4854760"
 dependencies = [
  "leb128",
 ]
@@ -6113,78 +6139,128 @@ dependencies = [
 
 [[package]]
 name = "wasmparser"
-version = "0.116.1"
+version = "0.217.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "a58e28b80dd8340cb07b8242ae654756161f6fc8d0038123d679b7b99964fa50"
+checksum = "ca917a21307d3adf2b9857b94dd05ebf8496bdcff4437a9b9fb3899d3e6c74e7"
 dependencies = [
+ "ahash 0.8.11",
+ "bitflags 2.6.0",
+ "hashbrown 0.14.5",
  "indexmap 2.6.0",
  "semver",
+ "serde",
+]
+
+[[package]]
+name = "wasmprinter"
+version = "0.217.0"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "50dc568b3e0d47e8f96ea547c90790cfa783f0205160c40de894a427114185ce"
+dependencies = [
+ "anyhow",
+ "termcolor",
+ "wasmparser",
 ]
 
 [[package]]
 name = "wasmtime"
-version = "15.0.1"
+version = "25.0.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "642e12d108e800215263e3b95972977f473957923103029d7d617db701d67ba4"
+checksum = "ef01f9cb9636ed42a7ec5a09d785c0643590199dc7372dc22c7e2ba7a31a97d4"
 dependencies = [
+ "addr2line 0.22.0",
  "anyhow",
- "bincode",
+ "bitflags 2.6.0",
  "bumpalo",
+ "cc",
  "cfg-if",
+ "gimli 0.29.0",
+ "hashbrown 0.14.5",
  "indexmap 2.6.0",
  "libc",
+ "libm",
  "log",
- "object 0.32.2",
+ "mach2",
+ "memfd",
+ "object",
  "once_cell",
  "paste",
+ "postcard",
  "psm",
+ "rayon",
+ "rustix",
  "serde",
  "serde_derive",
- "serde_json",
+ "smallvec",
+ "sptr",
  "target-lexicon",
  "wasmparser",
+ "wasmtime-asm-macros",
  "wasmtime-cache",
+ "wasmtime-component-macro",
  "wasmtime-cranelift",
  "wasmtime-environ",
- "wasmtime-jit",
- "wasmtime-runtime",
- "windows-sys 0.48.0",
+ "wasmtime-jit-icache-coherence",
+ "wasmtime-slab",
+ "wasmtime-versioned-export-macros",
+ "windows-sys 0.52.0",
 ]
 
 [[package]]
 name = "wasmtime-asm-macros"
-version = "15.0.1"
+version = "25.0.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "beada8bb15df52503de0a4c58de4357bfd2f96d9a44a6e547bad11efdd988b47"
+checksum = "ba5b20797419d6baf2296db2354f864e8bb3447cacca9d151ce7700ae08b4460"
 dependencies = [
  "cfg-if",
 ]
 
 [[package]]
 name = "wasmtime-cache"
-version = "15.0.1"
+version = "25.0.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "aba5bf44d044d25892c03fb3534373936ee204141ff92bac8297787ac7f22318"
+checksum = "272d5939e989c5b54e3fa83ef420e4a6dba3995c3065626066428b2f73ad1e06"
 dependencies = [
  "anyhow",
  "base64 0.21.7",
- "bincode",
  "directories-next",
  "log",
+ "postcard",
  "rustix",
  "serde",
  "serde_derive",
  "sha2",
- "toml 0.5.11",
- "windows-sys 0.48.0",
+ "toml 0.8.19",
+ "windows-sys 0.52.0",
  "zstd",
 ]
 
+[[package]]
+name = "wasmtime-component-macro"
+version = "25.0.2"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "26593c4b18c76ca3c3fbdd813d6692256537b639b851d8a6fe827e3d6966fc01"
+dependencies = [
+ "anyhow",
+ "proc-macro2",
+ "quote",
+ "syn 2.0.77",
+ "wasmtime-component-util",
+ "wasmtime-wit-bindgen",
+ "wit-parser",
+]
+
+[[package]]
+name = "wasmtime-component-util"
+version = "25.0.2"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "a2ed562fbb0cbed20a56c369c8de146c1de06a48c19e26ed9aa45f073514ee60"
+
 [[package]]
 name = "wasmtime-cranelift"
-version = "15.0.1"
+version = "25.0.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "fe2e7532f1d6adbcc57e69bb6a7c503f0859076d07a9b4b6aabe8021ff8a05fd"
+checksum = "f389b789cbcb53a8499131182135dea21d7d97ad77e7fb66830f69479ef0e68c"
 dependencies = [
  "anyhow",
  "cfg-if",
@@ -6194,145 +6270,79 @@ dependencies = [
  "cranelift-frontend",
  "cranelift-native",
  "cranelift-wasm",
- "gimli 0.28.1",
+ "gimli 0.29.0",
  "log",
- "object 0.32.2",
+ "object",
+ "smallvec",
  "target-lexicon",
  "thiserror",
  "wasmparser",
- "wasmtime-cranelift-shared",
  "wasmtime-environ",
  "wasmtime-versioned-export-macros",
 ]
 
-[[package]]
-name = "wasmtime-cranelift-shared"
-version = "15.0.1"
-source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "8c98d5378a856cbf058d36278627dfabf0ed68a888142958c7ae8e6af507dafa"
-dependencies = [
- "anyhow",
- "cranelift-codegen",
- "cranelift-control",
- "cranelift-native",
- "gimli 0.28.1",
- "object 0.32.2",
- "target-lexicon",
- "wasmtime-environ",
-]
-
 [[package]]
 name = "wasmtime-environ"
-version = "15.0.1"
+version = "25.0.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "a6d33a9f421da810a070cd56add9bc51f852bd66afbb8b920489d6242f15b70e"
+checksum = "84b72debe8899f19bedf66f7071310f06ef62de943a1369ba9b373613e77dd3d"
 dependencies = [
  "anyhow",
+ "cpp_demangle",
+ "cranelift-bitset",
  "cranelift-entity",
- "gimli 0.28.1",
+ "gimli 0.29.0",
  "indexmap 2.6.0",
  "log",
- "object 0.32.2",
+ "object",
+ "postcard",
+ "rustc-demangle",
  "serde",
  "serde_derive",
  "target-lexicon",
- "thiserror",
+ "wasm-encoder",
  "wasmparser",
+ "wasmprinter",
  "wasmtime-types",
 ]
 
-[[package]]
-name = "wasmtime-jit"
-version = "15.0.1"
-source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "8d0994a86d6dca5f7d9740d7f2bd0568be06d2014a550361dc1c397d289d81ef"
-dependencies = [
- "addr2line 0.21.0",
- "anyhow",
- "bincode",
- "cfg-if",
- "cpp_demangle",
- "gimli 0.28.1",
- "log",
- "object 0.32.2",
- "rustc-demangle",
- "rustix",
- "serde",
- "serde_derive",
- "target-lexicon",
- "wasmtime-environ",
- "wasmtime-jit-icache-coherence",
- "wasmtime-runtime",
- "windows-sys 0.48.0",
-]
-
-[[package]]
-name = "wasmtime-jit-debug"
-version = "15.0.1"
-source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "4e0c4b74e606d1462d648631d5bc328e3d5b14e7f9d3ff93bc6db062fb8c5cd8"
-dependencies = [
- "once_cell",
- "wasmtime-versioned-export-macros",
-]
-
 [[package]]
 name = "wasmtime-jit-icache-coherence"
-version = "15.0.1"
+version = "25.0.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "3090a69ba1476979e090aa7ed4bc759178bafdb65b22f98b9ba24fc6e7e578d5"
+checksum = "1d930bc1325bc0448be6a11754156d770f56f6c3a61f440e9567f36cd2ea3065"
 dependencies = [
+ "anyhow",
  "cfg-if",
  "libc",
- "windows-sys 0.48.0",
+ "windows-sys 0.52.0",
 ]
 
 [[package]]
-name = "wasmtime-runtime"
-version = "15.0.1"
+name = "wasmtime-slab"
+version = "25.0.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "b993ac8380385ed67bf71b51b9553edcf1ab0801b78a805a067de581b9a3e88a"
-dependencies = [
- "anyhow",
- "cc",
- "cfg-if",
- "indexmap 2.6.0",
- "libc",
- "log",
- "mach",
- "memfd",
- "memoffset",
- "paste",
- "rand 0.8.5",
- "rustix",
- "sptr",
- "wasm-encoder",
- "wasmtime-asm-macros",
- "wasmtime-environ",
- "wasmtime-jit-debug",
- "wasmtime-versioned-export-macros",
- "wasmtime-wmemcheck",
- "windows-sys 0.48.0",
-]
+checksum = "055a181b8d03998511294faea14798df436503f14d7fd20edcf7370ec583e80a"
 
 [[package]]
 name = "wasmtime-types"
-version = "15.0.1"
+version = "25.0.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "8b5778112fcab2dc3d4371f4203ab8facf0c453dd94312b0a88dd662955e64e0"
+checksum = "c8340d976673ac3fdacac781f2afdc4933920c1adc738c3409e825dab3955399"
 dependencies = [
+ "anyhow",
  "cranelift-entity",
  "serde",
  "serde_derive",
- "thiserror",
+ "smallvec",
  "wasmparser",
 ]
 
 [[package]]
 name = "wasmtime-versioned-export-macros"
-version = "15.0.1"
+version = "25.0.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "f50f51f8d79bfd2aa8e9d9a0ae7c2d02b45fe412e62ff1b87c0c81b07c738231"
+checksum = "a4b0c1f76891f778db9602ee3fbb4eb7e9a3f511847d1fb1b69eddbcea28303c"
 dependencies = [
  "proc-macro2",
  "quote",
@@ -6340,10 +6350,16 @@ dependencies = [
 ]
 
 [[package]]
-name = "wasmtime-wmemcheck"
-version = "15.0.1"
+name = "wasmtime-wit-bindgen"
+version = "25.0.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "9b6060bc082cc32d9a45587c7640e29e3c7b89ada82677ac25d87850aaccb368"
+checksum = "b2fca2cbb5bb390f65d4434c19bf8d9873dfc60f10802918ebcd6f819a38d703"
+dependencies = [
+ "anyhow",
+ "heck 0.4.1",
+ "indexmap 2.6.0",
+ "wit-parser",
+]
 
 [[package]]
 name = "web-sys"
@@ -6650,6 +6666,24 @@ dependencies = [
  "memchr",
 ]
 
+[[package]]
+name = "wit-parser"
+version = "0.217.0"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "fb893dcd6d370cfdf19a0d9adfcd403efb8e544e1a0ea3a8b81a21fe392eaa78"
+dependencies = [
+ "anyhow",
+ "id-arena",
+ "indexmap 2.6.0",
+ "log",
+ "semver",
+ "serde",
+ "serde_derive",
+ "serde_json",
+ "unicode-xid",
+ "wasmparser",
+]
+
 [[package]]
 name = "wyz"
 version = "0.5.1"
@@ -6720,20 +6754,19 @@ checksum = "ced3678a2879b30306d323f4542626697a464a97c0a07c9aebf7ebca65cd4dde"
 
 [[package]]
 name = "zstd"
-version = "0.11.2+zstd.1.5.2"
+version = "0.13.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "20cc960326ece64f010d2d2107537f26dc589a6573a316bd5b1dba685fa5fde4"
+checksum = "fcf2b778a664581e31e389454a7072dab1647606d44f7feea22cd5abb9c9f3f9"
 dependencies = [
  "zstd-safe",
 ]
 
 [[package]]
 name = "zstd-safe"
-version = "5.0.2+zstd.1.5.2"
+version = "7.2.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "1d2a5585e04f9eea4b2a3d1eca508c4dee9592a89ef6f450c11719da0726f4db"
+checksum = "54a3ab4db68cea366acc5c897c7b4d4d1b8994a9cd6e6f841f8964566a419059"
 dependencies = [
- "libc",
  "zstd-sys",
 ]
 
diff --git a/Cargo.toml b/Cargo.toml
index 4dbf5367321..85e567be203 100644
--- a/Cargo.toml
+++ b/Cargo.toml
@@ -196,7 +196,7 @@ ron = "0.8"
 rusqlite = { version = "0.29.0", features = ["bundled", "column_decltype"] }
 rust_decimal = { version = "1.29.1", features = ["db-tokio-postgres"] }
 rustc-demangle = "0.1.21"
-rustc-hash = "1.1.0"
+rustc-hash = "2"
 rustyline = { version = "12.0.0", features = [] }
 scoped-tls = "1.0.1"
 scopeguard = "1.1.0"
@@ -241,30 +241,42 @@ tracing-flame = "0.2.0"
 tracing-log = "0.1.3"
 tracing-subscriber = { version = "0.3.17", features = ["env-filter"] }
 typed-arena = "2.0"
-unicode-normalization = "0.1.23"
 unicode-ident = "1.0.12"
+unicode-normalization = "0.1.23"
 url = "2.3.1"
 urlencoding = "2.1.2"
 uuid = { version = "1.2.1", features = ["v4"] }
 walkdir = "2.2.5"
 wasmbin = "0.6"
 
+# Vendor the openssl we rely on, rather than depend on a
+# potentially very old system version.
+openssl = { version = "0.10", features = ["vendored"] }
 
-wasmtime = { version = "15", default-features = false, features = ["cranelift", "demangle", "addr2line", "cache"] }
+[workspace.dependencies.wasmtime]
+version = "25"
+default-features = false
+features = [
+  "addr2line",
+  "cache",
+  "cranelift",
+  "demangle",
+  "parallel-compilation",
+  "runtime",
+  "std",
+]
 
+[workspace.dependencies.tracing-tracy]
+version = "0.10.4"
 # We use the "ondemand" feature to allow connecting after the start,
 # and reconnecting, from the tracy client to the database.
 # TODO(George): Need to be able to remove "broadcast" in some build configurations.
-tracing-tracy = { version = "0.10.4", features = [
-   "enable",
-   "system-tracing",
-   "context-switch-tracing",
-   "sampling",
-   "code-transfer",
-   "broadcast",
-   "ondemand",
- ] }
-
-# Vendor the openssl we rely on, rather than depend on a
-# potentially very old system version.
-openssl = { version = "0.10", features = ["vendored"] }
+features = [
+  "enable",
+  "system-tracing",
+  "context-switch-tracing",
+  "sampling",
+  "code-transfer",
+  "broadcast",
+  "ondemand",
+]
diff --git a/crates/core/src/host/wasm_common.rs b/crates/core/src/host/wasm_common.rs
index 17504e12e2a..844f706b6d7 100644
--- a/crates/core/src/host/wasm_common.rs
+++ b/crates/core/src/host/wasm_common.rs
@@ -2,6 +2,7 @@ pub mod abi;
 pub mod instrumentation;
 pub mod module_host_actor;
 
+use std::fmt;
 use std::num::NonZeroU16;
 use std::time::Instant;
 
@@ -26,7 +27,7 @@ pub const CLIENT_CONNECTED_DUNDER: &str = "__identity_connected__";
 /// The reducer with this name is invoked when a client disconnects.
 pub const CLIENT_DISCONNECTED_DUNDER: &str = "__identity_disconnected__";
 
-#[derive(Debug, Copy, Clone, PartialEq, Eq)]
+#[derive(Debug, Clone)]
 #[allow(unused)]
 pub enum WasmType {
     I32,
@@ -34,53 +35,79 @@ pub enum WasmType {
     F32,
     F64,
     V128,
-    FuncRef,
-    ExternRef,
+    #[allow(clippy::box_collection)]
+    Ref(Box<String>),
 }
 
-macro_rules! type_eq {
-    ($t:path) => {
-        impl PartialEq<WasmType> for $t {
-            fn eq(&self, other: &WasmType) -> bool {
-                matches!(
-                    (self, other),
-                    (Self::I32, WasmType::I32)
-                        | (Self::I64, WasmType::I64)
-                        | (Self::F32, WasmType::F32)
-                        | (Self::F64, WasmType::F64)
-                        | (Self::V128, WasmType::V128)
-                        | (Self::FuncRef, WasmType::FuncRef)
-                        | (Self::ExternRef, WasmType::ExternRef)
-                )
-            }
-        }
-        impl PartialEq<&WasmType> for $t {
-            fn eq(&self, other: &&WasmType) -> bool {
-                self.eq(*other)
-            }
-        }
-        impl From<$t> for WasmType {
-            fn from(ty: $t) -> WasmType {
-                match ty {
-                    <$t>::I32 => WasmType::I32,
-                    <$t>::I64 => WasmType::I64,
-                    <$t>::F32 => WasmType::F32,
-                    <$t>::F64 => WasmType::F64,
-                    <$t>::V128 => WasmType::V128,
-                    <$t>::FuncRef => WasmType::FuncRef,
-                    <$t>::ExternRef => WasmType::ExternRef,
-                }
-            }
+impl fmt::Display for WasmType {
+    fn fmt(&self, f: &mut fmt::Formatter<'_>) -> fmt::Result {
+        f.write_str(match self {
+            WasmType::I32 => "i32",
+            WasmType::I64 => "i64",
+            WasmType::F32 => "f32",
+            WasmType::F64 => "f64",
+            WasmType::V128 => "v128",
+            WasmType::Ref(r) => r,
+        })
+    }
+}
+
+impl PartialEq<WasmType> for wasmtime::ValType {
+    fn eq(&self, other: &WasmType) -> bool {
+        matches!(
+            (self, other),
+            (Self::I32, WasmType::I32)
+                | (Self::I64, WasmType::I64)
+                | (Self::F32, WasmType::F32)
+                | (Self::F64, WasmType::F64)
+                | (Self::V128, WasmType::V128)
+        )
+    }
+}
+impl PartialEq<&WasmType> for wasmtime::ValType {
+    fn eq(&self, other: &&WasmType) -> bool {
+        self.eq(*other)
+    }
+}
+impl From<wasmtime::ValType> for WasmType {
+    fn from(ty: wasmtime::ValType) -> WasmType {
+        match ty {
+            wasmtime::ValType::I32 => WasmType::I32,
+            wasmtime::ValType::I64 => WasmType::I64,
+            wasmtime::ValType::F32 => WasmType::F32,
+            wasmtime::ValType::F64 => WasmType::F64,
+            wasmtime::ValType::V128 => WasmType::V128,
+            wasmtime::ValType::Ref(ty) => WasmType::Ref(Box::new(ty.to_string())),
         }
-    };
+    }
 }
-type_eq!(wasmtime::ValType);
 
 #[derive(Debug)]
 pub struct FuncSig<T: AsRef<[WasmType]>> {
     params: T,
     results: T,
 }
+impl<T: AsRef<[WasmType]>> fmt::Display for FuncSig<T> {
+    fn fmt(&self, f: &mut fmt::Formatter<'_>) -> fmt::Result {
+        write!(f, "(func")?;
+        let (params, results) = (self.params.as_ref(), self.results.as_ref());
+        if !params.is_empty() {
+            write!(f, " (param")?;
+            for p in params {
+                write!(f, " {p}")?;
+            }
+            write!(f, ")")?;
+        }
+        if !results.is_empty() {
+            write!(f, " (result")?;
+            for r in results {
+                write!(f, " {r}")?;
+            }
+            write!(f, ")")?;
+        }
+        write!(f, ")")
+    }
+}
 type StaticFuncSig = FuncSig<&'static [WasmType]>;
 type BoxFuncSig = FuncSig<Box<[WasmType]>>;
 impl StaticFuncSig {
@@ -141,14 +168,14 @@ const CALL_REDUCER_SIG: StaticFuncSig = FuncSig::new(
 
 #[derive(thiserror::Error, Debug)]
 pub enum ValidationError {
-    #[error("bad {kind} signature for {name:?}; expected {expected:?} got {actual:?}")]
+    #[error("bad {kind} signature for {name:?}; expected {expected} got {actual}")]
     MismatchedSignature {
         kind: &'static str,
         name: Box<str>,
         expected: StaticFuncSig,
         actual: BoxFuncSig,
     },
-    #[error("expected {name:?} export to be a {kind} with signature {expected:?}, but it wasn't a function at all")]
+    #[error("expected {name:?} export to be a {kind} with signature {expected}, but it wasn't a function at all")]
     NotAFunction {
         kind: &'static str,
         name: Box<str>,