diff --git a/docs/migrations/v7-to-v8.md b/docs/migrations/v7-to-v8.md
index f6b15ff4eed..8059c6cc7eb 100644
--- a/docs/migrations/v7-to-v8.md
+++ b/docs/migrations/v7-to-v8.md
@@ -47,13 +47,12 @@ TODO: https://github.com/cosmos/ibc-go/pull/3505 (extra parameter added to trans
 	)
 ```
 
-- You should pass the `authority` to the IBC keeper. ([#3640](https://github.com/cosmos/ibc-go/pull/3640)) See [diff](https://github.com/cosmos/ibc-go/pull/3640/files#diff-d18972debee5e64f16e40807b2ae112ddbe609504a93ea5e1c80a5d489c3a08a).
+- You should pass the `authority` to the IBC keeper. ([#3640](https://github.com/cosmos/ibc-go/pull/3640) and [#3650](https://github.com/cosmos/ibc-go/pull/3650)) See [diff](https://github.com/cosmos/ibc-go/pull/3640/files#diff-d18972debee5e64f16e40807b2ae112ddbe609504a93ea5e1c80a5d489c3a08a).
 
 ```diff
 // app.go
 
 	// IBC Keepers
-
 	app.IBCKeeper = ibckeeper.NewKeeper(
 -       appCodec, keys[ibcexported.StoreKey], app.GetSubspace(ibcexported.ModuleName), app.StakingKeeper, app.UpgradeKeeper, scopedIBCKeeper,
 +		appCodec, keys[ibcexported.StoreKey], app.GetSubspace(ibcexported.ModuleName), app.StakingKeeper, app.UpgradeKeeper, scopedIBCKeeper, authtypes.NewModuleAddress(govtypes.ModuleName).String(),
diff --git a/e2e/tests/core/03-connection/connection_test.go b/e2e/tests/core/03-connection/connection_test.go
index 0898f99a8af..991b44d6d1d 100644
--- a/e2e/tests/core/03-connection/connection_test.go
+++ b/e2e/tests/core/03-connection/connection_test.go
@@ -8,6 +8,7 @@ import (
 	"testing"
 	"time"
 
+	govtypes "github.com/cosmos/cosmos-sdk/x/gov/types"
 	paramsproposaltypes "github.com/cosmos/cosmos-sdk/x/params/types/proposal"
 	"github.com/strangelove-ventures/interchaintest/v7/ibc"
 	test "github.com/strangelove-ventures/interchaintest/v7/testutil"
@@ -30,6 +31,13 @@ type ConnectionTestSuite struct {
 
 // QueryMaxExpectedTimePerBlockParam queries the on-chain max expected time per block param for 03-connection
 func (s *ConnectionTestSuite) QueryMaxExpectedTimePerBlockParam(ctx context.Context, chain ibc.Chain) uint64 {
+	if testvalues.SelfParamsFeatureReleases.IsSupported(chain.Config().Images[0].Version) {
+		queryClient := s.GetChainGRCPClients(chain).ConnectionQueryClient
+		res, err := queryClient.ConnectionParams(ctx, &connectiontypes.QueryConnectionParamsRequest{})
+		s.Require().NoError(err)
+
+		return res.Params.MaxExpectedTimePerBlock
+	}
 	queryClient := s.GetChainGRCPClients(chain).ParamsQueryClient
 	res, err := queryClient.Params(ctx, &paramsproposaltypes.QueryParamsRequest{
 		Subspace: ibcexported.ModuleName,
@@ -52,6 +60,7 @@ func (s *ConnectionTestSuite) TestMaxExpectedTimePerBlockParam() {
 
 	relayer, channelA := s.SetupChainsRelayerAndChannel(ctx, s.TransferChannelOptions())
 	chainA, chainB := s.GetChains()
+	chainAVersion := chainA.Config().Images[0].Version
 
 	chainBDenom := chainB.Config().Denom
 	chainAIBCToken := testsuite.GetIBCToken(chainBDenom, channelA.PortID, channelA.ChannelID)
@@ -65,19 +74,27 @@ func (s *ConnectionTestSuite) TestMaxExpectedTimePerBlockParam() {
 	s.Require().NoError(test.WaitForBlocks(ctx, 1, chainA, chainB), "failed to wait for blocks")
 
 	t.Run("ensure delay is set to the default of 30 seconds", func(t *testing.T) {
-		expectedDelay := uint64(30 * time.Second)
 		delay := s.QueryMaxExpectedTimePerBlockParam(ctx, chainA)
-		s.Require().Equal(expectedDelay, delay)
+		s.Require().Equal(uint64(connectiontypes.DefaultTimePerBlock), delay)
 	})
 
 	t.Run("change the delay to 60 seconds", func(t *testing.T) {
-		delay := fmt.Sprintf(`"%d"`, 1*time.Minute)
-		changes := []paramsproposaltypes.ParamChange{
-			paramsproposaltypes.NewParamChange(ibcexported.ModuleName, string(connectiontypes.KeyMaxExpectedTimePerBlock), delay),
-		}
+		delay := uint64(1 * time.Minute)
+		if testvalues.SelfParamsFeatureReleases.IsSupported(chainAVersion) {
+			authority, err := s.QueryModuleAccountAddress(ctx, govtypes.ModuleName, chainA)
+			s.Require().NoError(err)
+			s.Require().NotNil(authority)
+
+			msg := connectiontypes.NewMsgUpdateParams(authority.String(), connectiontypes.NewParams(delay))
+			s.ExecuteGovProposalV1(ctx, msg, chainA, chainAWallet, 1)
+		} else {
+			changes := []paramsproposaltypes.ParamChange{
+				paramsproposaltypes.NewParamChange(ibcexported.ModuleName, string(connectiontypes.KeyMaxExpectedTimePerBlock), fmt.Sprintf(`"%d"`, delay)),
+			}
 
-		proposal := paramsproposaltypes.NewParameterChangeProposal(ibctesting.Title, ibctesting.Description, changes)
-		s.ExecuteGovProposal(ctx, chainA, chainAWallet, proposal)
+			proposal := paramsproposaltypes.NewParameterChangeProposal(ibctesting.Title, ibctesting.Description, changes)
+			s.ExecuteGovProposal(ctx, chainA, chainAWallet, proposal)
+		}
 	})
 
 	t.Run("validate the param was successfully changed", func(t *testing.T) {
diff --git a/e2e/tests/transfer/base_test.go b/e2e/tests/transfer/base_test.go
index 901c5e9b1a8..a8d4b2215c2 100644
--- a/e2e/tests/transfer/base_test.go
+++ b/e2e/tests/transfer/base_test.go
@@ -245,7 +245,7 @@ func (s *TransferTestSuite) TestSendEnabledParam() {
 	chainBAddress := chainBWallet.FormattedAddress()
 
 	chainAVersion := chainA.Config().Images[0].Version
-	isSelfManagingParams := testvalues.TransferSelfParamsFeatureReleases.IsSupported(chainAVersion)
+	isSelfManagingParams := testvalues.SelfParamsFeatureReleases.IsSupported(chainAVersion)
 
 	govModuleAddress, err := s.QueryModuleAccountAddress(ctx, govtypes.ModuleName, chainA)
 	s.Require().NoError(err)
@@ -308,7 +308,7 @@ func (s *TransferTestSuite) TestReceiveEnabledParam() {
 	)
 
 	chainAVersion := chainA.Config().Images[0].Version
-	isSelfManagingParams := testvalues.TransferSelfParamsFeatureReleases.IsSupported(chainAVersion)
+	isSelfManagingParams := testvalues.SelfParamsFeatureReleases.IsSupported(chainAVersion)
 
 	govModuleAddress, err := s.QueryModuleAccountAddress(ctx, govtypes.ModuleName, chainA)
 	s.Require().NoError(err)
diff --git a/e2e/testvalues/values.go b/e2e/testvalues/values.go
index fa033787ce5..9c0695746e3 100644
--- a/e2e/testvalues/values.go
+++ b/e2e/testvalues/values.go
@@ -67,7 +67,7 @@ var IcadNewGenesisCommandsFeatureReleases = semverutil.FeatureReleases{
 }
 
 // TransferSelfParamsFeatureReleases represents the releases the transfer module started managing its own params.
-var TransferSelfParamsFeatureReleases = semverutil.FeatureReleases{
+var SelfParamsFeatureReleases = semverutil.FeatureReleases{
 	MajorVersion: "v8",
 }
 
diff --git a/modules/core/03-connection/keeper/keeper.go b/modules/core/03-connection/keeper/keeper.go
index 4e763c3302b..ee37f913ef0 100644
--- a/modules/core/03-connection/keeper/keeper.go
+++ b/modules/core/03-connection/keeper/keeper.go
@@ -20,24 +20,24 @@ type Keeper struct {
 	// implements gRPC QueryServer interface
 	types.QueryServer
 
-	storeKey     storetypes.StoreKey
-	paramSpace   paramtypes.Subspace
-	cdc          codec.BinaryCodec
-	clientKeeper types.ClientKeeper
+	storeKey       storetypes.StoreKey
+	legacySubspace paramtypes.Subspace
+	cdc            codec.BinaryCodec
+	clientKeeper   types.ClientKeeper
 }
 
 // NewKeeper creates a new IBC connection Keeper instance
-func NewKeeper(cdc codec.BinaryCodec, key storetypes.StoreKey, paramSpace paramtypes.Subspace, ck types.ClientKeeper) Keeper {
+func NewKeeper(cdc codec.BinaryCodec, key storetypes.StoreKey, legacySubspace paramtypes.Subspace, ck types.ClientKeeper) Keeper {
 	// set KeyTable if it has not already been set
-	if !paramSpace.HasKeyTable() {
-		paramSpace = paramSpace.WithKeyTable(types.ParamKeyTable())
+	if !legacySubspace.HasKeyTable() {
+		legacySubspace = legacySubspace.WithKeyTable(types.ParamKeyTable())
 	}
 
 	return Keeper{
-		storeKey:     key,
-		cdc:          cdc,
-		paramSpace:   paramSpace,
-		clientKeeper: ck,
+		storeKey:       key,
+		cdc:            cdc,
+		legacySubspace: legacySubspace,
+		clientKeeper:   ck,
 	}
 }
 
@@ -221,3 +221,23 @@ func (k Keeper) addConnectionToClient(ctx sdk.Context, clientID, connectionID st
 	k.SetClientConnectionPaths(ctx, clientID, conns)
 	return nil
 }
+
+// GetParams returns the total set of ibc-connection parameters.
+func (k Keeper) GetParams(ctx sdk.Context) types.Params {
+	store := ctx.KVStore(k.storeKey)
+	bz := store.Get([]byte(types.ParamsKey))
+	if bz == nil { // only panic on unset params and not on empty params
+		panic("connection params are not set in store")
+	}
+
+	var params types.Params
+	k.cdc.MustUnmarshal(bz, &params)
+	return params
+}
+
+// SetParams sets the total set of ibc-connection parameters.
+func (k Keeper) SetParams(ctx sdk.Context, params types.Params) {
+	store := ctx.KVStore(k.storeKey)
+	bz := k.cdc.MustMarshal(&params)
+	store.Set([]byte(types.ParamsKey), bz)
+}
diff --git a/modules/core/03-connection/keeper/keeper_test.go b/modules/core/03-connection/keeper/keeper_test.go
index dbae331d690..5f4e5b3f244 100644
--- a/modules/core/03-connection/keeper/keeper_test.go
+++ b/modules/core/03-connection/keeper/keeper_test.go
@@ -176,3 +176,55 @@ func (suite *KeeperTestSuite) TestLocalhostConnectionEndCreation() {
 	expectedCounterParty := types.NewCounterparty(exported.LocalhostClientID, exported.LocalhostConnectionID, commitmenttypes.NewMerklePrefix(connectionKeeper.GetCommitmentPrefix().Bytes()))
 	suite.Require().Equal(expectedCounterParty, connectionEnd.Counterparty)
 }
+
+// TestDefaultSetParams tests the default params set are what is expected
+func (suite *KeeperTestSuite) TestDefaultSetParams() {
+	expParams := types.DefaultParams()
+
+	params := suite.chainA.App.GetIBCKeeper().ConnectionKeeper.GetParams(suite.chainA.GetContext())
+	suite.Require().Equal(expParams, params)
+}
+
+// TestParams tests that param setting and retrieval works properly
+func (suite *KeeperTestSuite) TestSetAndGetParams() {
+	testCases := []struct {
+		name    string
+		input   types.Params
+		expPass bool
+	}{
+		{"success: set default params", types.DefaultParams(), true},
+		{"success: valid value for MaxExpectedTimePerBlock", types.NewParams(10), true},
+		{"failure: invalid value for MaxExpectedTimePerBlock", types.NewParams(0), false},
+	}
+
+	for _, tc := range testCases {
+		tc := tc
+
+		suite.Run(tc.name, func() {
+			suite.SetupTest() // reset
+			ctx := suite.chainA.GetContext()
+			err := tc.input.Validate()
+			suite.chainA.GetSimApp().IBCKeeper.ConnectionKeeper.SetParams(ctx, tc.input)
+			if tc.expPass {
+				suite.Require().NoError(err)
+				expected := tc.input
+				p := suite.chainA.GetSimApp().IBCKeeper.ConnectionKeeper.GetParams(ctx)
+				suite.Require().Equal(expected, p)
+			} else {
+				suite.Require().Error(err)
+			}
+		})
+	}
+}
+
+// TestUnsetParams tests that trying to get params that are not set panics.
+func (suite *KeeperTestSuite) TestUnsetParams() {
+	suite.SetupTest()
+	ctx := suite.chainA.GetContext()
+	store := ctx.KVStore(suite.chainA.GetSimApp().GetKey(exported.StoreKey))
+	store.Delete([]byte(types.ParamsKey))
+
+	suite.Require().Panics(func() {
+		suite.chainA.GetSimApp().IBCKeeper.ConnectionKeeper.GetParams(ctx)
+	})
+}
diff --git a/modules/core/03-connection/keeper/migrations.go b/modules/core/03-connection/keeper/migrations.go
index 9965eab28ca..49eb5ff41a6 100644
--- a/modules/core/03-connection/keeper/migrations.go
+++ b/modules/core/03-connection/keeper/migrations.go
@@ -4,6 +4,7 @@ import (
 	sdk "github.com/cosmos/cosmos-sdk/types"
 
 	connectionv7 "github.com/cosmos/ibc-go/v7/modules/core/03-connection/migrations/v7"
+	"github.com/cosmos/ibc-go/v7/modules/core/03-connection/types"
 )
 
 // Migrator is a struct for handling in-place store migrations.
@@ -22,3 +23,17 @@ func (m Migrator) Migrate3to4(ctx sdk.Context) error {
 	connectionv7.MigrateLocalhostConnection(ctx, m.keeper)
 	return nil
 }
+
+// MigrateParams migrates from consensus version 4 to 5.
+// This migration takes the parameters that are currently stored and managed by x/params
+// and stores them directly in the ibc module's state.
+func (m Migrator) MigrateParams(ctx sdk.Context) error {
+	var params types.Params
+	m.keeper.legacySubspace.GetParamSet(ctx, &params)
+
+	if err := params.Validate(); err != nil {
+		return err
+	}
+	m.keeper.SetParams(ctx, params)
+	return nil
+}
diff --git a/modules/core/03-connection/keeper/migrations_test.go b/modules/core/03-connection/keeper/migrations_test.go
new file mode 100644
index 00000000000..d3d87361668
--- /dev/null
+++ b/modules/core/03-connection/keeper/migrations_test.go
@@ -0,0 +1,43 @@
+package keeper_test
+
+import (
+	"github.com/cosmos/ibc-go/v7/modules/core/03-connection/keeper"
+	"github.com/cosmos/ibc-go/v7/modules/core/03-connection/types"
+	ibcexported "github.com/cosmos/ibc-go/v7/modules/core/exported"
+)
+
+// TestMigrateParams tests that the params for the connection are properly migrated
+func (suite *KeeperTestSuite) TestMigrateParams() {
+	testCases := []struct {
+		name           string
+		malleate       func()
+		expectedParams types.Params
+	}{
+		{
+			"success: default params",
+			func() {
+				params := types.DefaultParams()
+				subspace := suite.chainA.GetSimApp().GetSubspace(ibcexported.ModuleName)
+				subspace.SetParamSet(suite.chainA.GetContext(), &params) // set params
+			},
+			types.DefaultParams(),
+		},
+	}
+
+	for _, tc := range testCases {
+		tc := tc
+		suite.Run(tc.name, func() {
+			suite.SetupTest() // reset
+
+			tc.malleate()
+
+			ctx := suite.chainA.GetContext()
+			migrator := keeper.NewMigrator(suite.chainA.GetSimApp().IBCKeeper.ConnectionKeeper)
+			err := migrator.MigrateParams(ctx)
+			suite.Require().NoError(err)
+
+			params := suite.chainA.GetSimApp().IBCKeeper.ConnectionKeeper.GetParams(ctx)
+			suite.Require().Equal(tc.expectedParams, params)
+		})
+	}
+}
diff --git a/modules/core/03-connection/keeper/params.go b/modules/core/03-connection/keeper/params.go
deleted file mode 100644
index 8723d5d7246..00000000000
--- a/modules/core/03-connection/keeper/params.go
+++ /dev/null
@@ -1,24 +0,0 @@
-package keeper
-
-import (
-	sdk "github.com/cosmos/cosmos-sdk/types"
-
-	"github.com/cosmos/ibc-go/v7/modules/core/03-connection/types"
-)
-
-// GetMaxExpectedTimePerBlock retrieves the maximum expected time per block from the paramstore
-func (k Keeper) GetMaxExpectedTimePerBlock(ctx sdk.Context) uint64 {
-	var res uint64
-	k.paramSpace.Get(ctx, types.KeyMaxExpectedTimePerBlock, &res)
-	return res
-}
-
-// GetParams returns the total set of ibc-connection parameters.
-func (k Keeper) GetParams(ctx sdk.Context) types.Params {
-	return types.NewParams(k.GetMaxExpectedTimePerBlock(ctx))
-}
-
-// SetParams sets the total set of ibc-connection parameters.
-func (k Keeper) SetParams(ctx sdk.Context, params types.Params) {
-	k.paramSpace.SetParamSet(ctx, &params)
-}
diff --git a/modules/core/03-connection/keeper/params_test.go b/modules/core/03-connection/keeper/params_test.go
deleted file mode 100644
index 30450beb528..00000000000
--- a/modules/core/03-connection/keeper/params_test.go
+++ /dev/null
@@ -1,17 +0,0 @@
-package keeper_test
-
-import (
-	"github.com/cosmos/ibc-go/v7/modules/core/03-connection/types"
-)
-
-func (suite *KeeperTestSuite) TestParams() {
-	expParams := types.DefaultParams()
-
-	params := suite.chainA.App.GetIBCKeeper().ConnectionKeeper.GetParams(suite.chainA.GetContext())
-	suite.Require().Equal(expParams, params)
-
-	expParams.MaxExpectedTimePerBlock = 10
-	suite.chainA.App.GetIBCKeeper().ConnectionKeeper.SetParams(suite.chainA.GetContext(), expParams)
-	_ = suite.chainA.App.GetIBCKeeper().ConnectionKeeper.GetParams(suite.chainA.GetContext())
-	suite.Require().Equal(uint64(10), expParams.MaxExpectedTimePerBlock)
-}
diff --git a/modules/core/03-connection/keeper/verify.go b/modules/core/03-connection/keeper/verify.go
index 735347e80a5..c1316fb9ea2 100644
--- a/modules/core/03-connection/keeper/verify.go
+++ b/modules/core/03-connection/keeper/verify.go
@@ -369,7 +369,7 @@ func (k Keeper) VerifyNextSequenceRecv(
 func (k Keeper) getBlockDelay(ctx sdk.Context, connection exported.ConnectionI) uint64 {
 	// expectedTimePerBlock should never be zero, however if it is then return a 0 blcok delay for safety
 	// as the expectedTimePerBlock parameter was not set.
-	expectedTimePerBlock := k.GetMaxExpectedTimePerBlock(ctx)
+	expectedTimePerBlock := k.GetParams(ctx).MaxExpectedTimePerBlock
 	if expectedTimePerBlock == 0 {
 		return 0
 	}
diff --git a/modules/core/03-connection/types/codec.go b/modules/core/03-connection/types/codec.go
index 8f6ad752fbf..d6c1c1b2693 100644
--- a/modules/core/03-connection/types/codec.go
+++ b/modules/core/03-connection/types/codec.go
@@ -33,6 +33,7 @@ func RegisterInterfaces(registry codectypes.InterfaceRegistry) {
 		&MsgConnectionOpenTry{},
 		&MsgConnectionOpenAck{},
 		&MsgConnectionOpenConfirm{},
+		&MsgUpdateParams{},
 	)
 
 	msgservice.RegisterMsgServiceDesc(registry, &_Msg_serviceDesc)
diff --git a/modules/core/03-connection/types/keys.go b/modules/core/03-connection/types/keys.go
index 1b0b5132d90..cad76caf4ad 100644
--- a/modules/core/03-connection/types/keys.go
+++ b/modules/core/03-connection/types/keys.go
@@ -28,6 +28,9 @@ const (
 
 	// ConnectionPrefix is the prefix used when creating a connection identifier
 	ConnectionPrefix = "connection-"
+
+	// ParamsKey is the store key for the IBC connection parameters
+	ParamsKey = "connectionParams"
 )
 
 // FormatConnectionIdentifier returns the connection identifier with the sequence appended.
diff --git a/modules/core/03-connection/types/msgs.go b/modules/core/03-connection/types/msgs.go
index 0ea08c2a565..bacfe83c9e9 100644
--- a/modules/core/03-connection/types/msgs.go
+++ b/modules/core/03-connection/types/msgs.go
@@ -17,6 +17,7 @@ var (
 	_ sdk.Msg = (*MsgConnectionOpenConfirm)(nil)
 	_ sdk.Msg = (*MsgConnectionOpenAck)(nil)
 	_ sdk.Msg = (*MsgConnectionOpenTry)(nil)
+	_ sdk.Msg = (*MsgUpdateParams)(nil)
 
 	_ codectypes.UnpackInterfacesMessage = (*MsgConnectionOpenTry)(nil)
 	_ codectypes.UnpackInterfacesMessage = (*MsgConnectionOpenAck)(nil)
@@ -289,3 +290,28 @@ func (msg MsgConnectionOpenConfirm) GetSigners() []sdk.AccAddress {
 	}
 	return []sdk.AccAddress{accAddr}
 }
+
+// NewMsgUpdateParams creates a new MsgUpdateParams instance
+func NewMsgUpdateParams(authority string, params Params) *MsgUpdateParams {
+	return &MsgUpdateParams{
+		Authority: authority,
+		Params:    params,
+	}
+}
+
+// GetSigners returns the expected signers for a MsgUpdateParams message.
+func (msg *MsgUpdateParams) GetSigners() []sdk.AccAddress {
+	accAddr, err := sdk.AccAddressFromBech32(msg.Authority)
+	if err != nil {
+		panic(err)
+	}
+	return []sdk.AccAddress{accAddr}
+}
+
+// ValidateBasic performs basic checks on a MsgUpdateParams.
+func (msg *MsgUpdateParams) ValidateBasic() error {
+	if _, err := sdk.AccAddressFromBech32(msg.Authority); err != nil {
+		return errorsmod.Wrapf(ibcerrors.ErrInvalidAddress, "string could not be parsed as address: %v", err)
+	}
+	return msg.Params.Validate()
+}
diff --git a/modules/core/03-connection/types/msgs_test.go b/modules/core/03-connection/types/msgs_test.go
index 61041342bd4..df19129a6c9 100644
--- a/modules/core/03-connection/types/msgs_test.go
+++ b/modules/core/03-connection/types/msgs_test.go
@@ -231,3 +231,38 @@ func (suite *MsgTestSuite) TestNewMsgConnectionOpenConfirm() {
 		}
 	}
 }
+
+// TestMsgUpdateParams_ValidateBasic tests ValidateBasic for MsgUpdateParams
+func (suite *MsgTestSuite) TestMsgUpdateParams_ValidateBasic() {
+	authority := suite.chainA.App.GetIBCKeeper().GetAuthority()
+	testCases := []struct {
+		name    string
+		msg     *types.MsgUpdateParams
+		expPass bool
+	}{
+		{
+			"success: valid authority and params",
+			types.NewMsgUpdateParams(authority, types.DefaultParams()),
+			true,
+		},
+		{
+			"failure: invalid authority address",
+			types.NewMsgUpdateParams("invalid", types.DefaultParams()),
+			false,
+		},
+		{
+			"failure: invalid time per block",
+			types.NewMsgUpdateParams(authority, types.NewParams(0)),
+			false,
+		},
+	}
+
+	for _, tc := range testCases {
+		err := tc.msg.ValidateBasic()
+		if tc.expPass {
+			suite.Require().NoError(err, "valid case %s failed", tc.name)
+		} else {
+			suite.Require().Error(err, "invalid case %s passed", tc.name)
+		}
+	}
+}
diff --git a/modules/core/03-connection/types/params.go b/modules/core/03-connection/types/params.go
index 35677062fdb..bca180757d9 100644
--- a/modules/core/03-connection/types/params.go
+++ b/modules/core/03-connection/types/params.go
@@ -3,21 +3,11 @@ package types
 import (
 	"fmt"
 	"time"
-
-	paramtypes "github.com/cosmos/cosmos-sdk/x/params/types"
 )
 
 // DefaultTimePerBlock is the default value for maximum expected time per block (in nanoseconds).
 const DefaultTimePerBlock = 30 * time.Second
 
-// KeyMaxExpectedTimePerBlock is store's key for MaxExpectedTimePerBlock parameter
-var KeyMaxExpectedTimePerBlock = []byte("MaxExpectedTimePerBlock")
-
-// ParamKeyTable type declaration for parameters
-func ParamKeyTable() paramtypes.KeyTable {
-	return paramtypes.NewKeyTable().RegisterParamSet(&Params{})
-}
-
 // NewParams creates a new parameter configuration for the ibc connection module
 func NewParams(timePerBlock uint64) Params {
 	return Params{
@@ -37,18 +27,3 @@ func (p Params) Validate() error {
 	}
 	return nil
 }
-
-// ParamSetPairs implements params.ParamSet
-func (p *Params) ParamSetPairs() paramtypes.ParamSetPairs {
-	return paramtypes.ParamSetPairs{
-		paramtypes.NewParamSetPair(KeyMaxExpectedTimePerBlock, p.MaxExpectedTimePerBlock, validateParams),
-	}
-}
-
-func validateParams(i interface{}) error {
-	_, ok := i.(uint64)
-	if !ok {
-		return fmt.Errorf("invalid parameter. expected %T, got type: %T", uint64(1), i)
-	}
-	return nil
-}
diff --git a/modules/core/03-connection/types/params_legacy.go b/modules/core/03-connection/types/params_legacy.go
new file mode 100644
index 00000000000..c57c3e359e5
--- /dev/null
+++ b/modules/core/03-connection/types/params_legacy.go
@@ -0,0 +1,36 @@
+/*
+NOTE: Usage of x/params to manage parameters is deprecated in favor of x/gov
+controlled execution of MsgUpdateParams messages. These types remains solely
+for migration purposes and will be removed in a future release.
+[#3621](https://github.com/cosmos/ibc-go/issues/3621)
+*/
+package types
+
+import (
+	fmt "fmt"
+
+	paramtypes "github.com/cosmos/cosmos-sdk/x/params/types"
+)
+
+// KeyMaxExpectedTimePerBlock is store's key for MaxExpectedTimePerBlock parameter
+var KeyMaxExpectedTimePerBlock = []byte("MaxExpectedTimePerBlock")
+
+// ParamKeyTable type declaration for parameters
+func ParamKeyTable() paramtypes.KeyTable {
+	return paramtypes.NewKeyTable().RegisterParamSet(&Params{})
+}
+
+// ParamSetPairs implements params.ParamSet
+func (p *Params) ParamSetPairs() paramtypes.ParamSetPairs {
+	return paramtypes.ParamSetPairs{
+		paramtypes.NewParamSetPair(KeyMaxExpectedTimePerBlock, &p.MaxExpectedTimePerBlock, validateParams),
+	}
+}
+
+func validateParams(i interface{}) error {
+	_, ok := i.(uint64)
+	if !ok {
+		return fmt.Errorf("invalid parameter. expected %T, got type: %T", uint64(1), i)
+	}
+	return nil
+}
diff --git a/modules/core/03-connection/types/tx.pb.go b/modules/core/03-connection/types/tx.pb.go
index e1cbf6903b7..be7cf0c1e24 100644
--- a/modules/core/03-connection/types/tx.pb.go
+++ b/modules/core/03-connection/types/tx.pb.go
@@ -378,6 +378,100 @@ func (m *MsgConnectionOpenConfirmResponse) XXX_DiscardUnknown() {
 
 var xxx_messageInfo_MsgConnectionOpenConfirmResponse proto.InternalMessageInfo
 
+// MsgUpdateParams defines the sdk.Msg type to update the connection parameters.
+type MsgUpdateParams struct {
+	// authority is the address that controls the module (defaults to x/gov unless overwritten).
+	Authority string `protobuf:"bytes,1,opt,name=authority,proto3" json:"authority,omitempty"`
+	// params defines the connection parameters to update.
+	//
+	// NOTE: All parameters must be supplied.
+	Params Params `protobuf:"bytes,2,opt,name=params,proto3" json:"params"`
+}
+
+func (m *MsgUpdateParams) Reset()         { *m = MsgUpdateParams{} }
+func (m *MsgUpdateParams) String() string { return proto.CompactTextString(m) }
+func (*MsgUpdateParams) ProtoMessage()    {}
+func (*MsgUpdateParams) Descriptor() ([]byte, []int) {
+	return fileDescriptor_5d00fde5fc97399e, []int{8}
+}
+func (m *MsgUpdateParams) XXX_Unmarshal(b []byte) error {
+	return m.Unmarshal(b)
+}
+func (m *MsgUpdateParams) XXX_Marshal(b []byte, deterministic bool) ([]byte, error) {
+	if deterministic {
+		return xxx_messageInfo_MsgUpdateParams.Marshal(b, m, deterministic)
+	} else {
+		b = b[:cap(b)]
+		n, err := m.MarshalToSizedBuffer(b)
+		if err != nil {
+			return nil, err
+		}
+		return b[:n], nil
+	}
+}
+func (m *MsgUpdateParams) XXX_Merge(src proto.Message) {
+	xxx_messageInfo_MsgUpdateParams.Merge(m, src)
+}
+func (m *MsgUpdateParams) XXX_Size() int {
+	return m.Size()
+}
+func (m *MsgUpdateParams) XXX_DiscardUnknown() {
+	xxx_messageInfo_MsgUpdateParams.DiscardUnknown(m)
+}
+
+var xxx_messageInfo_MsgUpdateParams proto.InternalMessageInfo
+
+func (m *MsgUpdateParams) GetAuthority() string {
+	if m != nil {
+		return m.Authority
+	}
+	return ""
+}
+
+func (m *MsgUpdateParams) GetParams() Params {
+	if m != nil {
+		return m.Params
+	}
+	return Params{}
+}
+
+// MsgUpdateParamsResponse defines the MsgUpdateParams response type.
+type MsgUpdateParamsResponse struct {
+}
+
+func (m *MsgUpdateParamsResponse) Reset()         { *m = MsgUpdateParamsResponse{} }
+func (m *MsgUpdateParamsResponse) String() string { return proto.CompactTextString(m) }
+func (*MsgUpdateParamsResponse) ProtoMessage()    {}
+func (*MsgUpdateParamsResponse) Descriptor() ([]byte, []int) {
+	return fileDescriptor_5d00fde5fc97399e, []int{9}
+}
+func (m *MsgUpdateParamsResponse) XXX_Unmarshal(b []byte) error {
+	return m.Unmarshal(b)
+}
+func (m *MsgUpdateParamsResponse) XXX_Marshal(b []byte, deterministic bool) ([]byte, error) {
+	if deterministic {
+		return xxx_messageInfo_MsgUpdateParamsResponse.Marshal(b, m, deterministic)
+	} else {
+		b = b[:cap(b)]
+		n, err := m.MarshalToSizedBuffer(b)
+		if err != nil {
+			return nil, err
+		}
+		return b[:n], nil
+	}
+}
+func (m *MsgUpdateParamsResponse) XXX_Merge(src proto.Message) {
+	xxx_messageInfo_MsgUpdateParamsResponse.Merge(m, src)
+}
+func (m *MsgUpdateParamsResponse) XXX_Size() int {
+	return m.Size()
+}
+func (m *MsgUpdateParamsResponse) XXX_DiscardUnknown() {
+	xxx_messageInfo_MsgUpdateParamsResponse.DiscardUnknown(m)
+}
+
+var xxx_messageInfo_MsgUpdateParamsResponse proto.InternalMessageInfo
+
 func init() {
 	proto.RegisterType((*MsgConnectionOpenInit)(nil), "ibc.core.connection.v1.MsgConnectionOpenInit")
 	proto.RegisterType((*MsgConnectionOpenInitResponse)(nil), "ibc.core.connection.v1.MsgConnectionOpenInitResponse")
@@ -387,66 +481,74 @@ func init() {
 	proto.RegisterType((*MsgConnectionOpenAckResponse)(nil), "ibc.core.connection.v1.MsgConnectionOpenAckResponse")
 	proto.RegisterType((*MsgConnectionOpenConfirm)(nil), "ibc.core.connection.v1.MsgConnectionOpenConfirm")
 	proto.RegisterType((*MsgConnectionOpenConfirmResponse)(nil), "ibc.core.connection.v1.MsgConnectionOpenConfirmResponse")
+	proto.RegisterType((*MsgUpdateParams)(nil), "ibc.core.connection.v1.MsgUpdateParams")
+	proto.RegisterType((*MsgUpdateParamsResponse)(nil), "ibc.core.connection.v1.MsgUpdateParamsResponse")
 }
 
 func init() { proto.RegisterFile("ibc/core/connection/v1/tx.proto", fileDescriptor_5d00fde5fc97399e) }
 
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+	0x1c, 0x12, 0x55, 0xcb, 0xad, 0xe5, 0x3c, 0x53, 0xad, 0xa7, 0xbd, 0xa5, 0x91, 0xa2, 0x0e, 0xd4,
+	0x3c, 0x9f, 0x90, 0x93, 0xee, 0xd0, 0xc6, 0xce, 0x90, 0xa9, 0x2b, 0xbc, 0x10, 0x2d, 0x15, 0x4c,
+	0xb0, 0x3f, 0xd9, 0xd5, 0x3f, 0xe1, 0x0a, 0x99, 0x7e, 0x95, 0x7b, 0x09, 0x13, 0xba, 0x0d, 0x20,
+	0x82, 0x60, 0x17, 0x33, 0x75, 0xb5, 0xa5, 0x6c, 0xd7, 0xcc, 0x0a, 0xb7, 0x70, 0xdc, 0xef, 0x44,
+	0x6b, 0x88, 0x58, 0x6a, 0x85, 0x0b, 0x44, 0x84, 0x0e, 0x37, 0xa1, 0x2d, 0x58, 0x93, 0x92, 0x90,
+	0x03, 0x97, 0x8e, 0xa9, 0x0a, 0x5c, 0x75, 0x5d, 0xa8, 0x22, 0x2b, 0xfa, 0x14, 0xde, 0x8a, 0x25,
+	0x51, 0xce, 0xd5, 0x9c, 0x39, 0xaf, 0xc5, 0x9e, 0x32, 0xef, 0x04, 0xde, 0x5a, 0x1a, 0x5e, 0xf4,
+	0x31, 0x68, 0x43, 0x42, 0x59, 0x92, 0x8c, 0xc0, 0xa3, 0xcb, 0x73, 0x51, 0xaf, 0xf1, 0xc4, 0x36,
+	0x43, 0x45, 0x9c, 0x17, 0xa7, 0xe2, 0x49, 0xf8, 0x39, 0x9b, 0xfc, 0x06, 0xdc, 0xca, 0xe2, 0x3a,
+	0x06, 0xff, 0xb7, 0x62, 0x06, 0xf8, 0xfb, 0xd6, 0x29, 0x7a, 0x17, 0xae, 0x5d, 0x46, 0x5a, 0xc0,
+	0x5f, 0xb3, 0xd2, 0x18, 0xef, 0x81, 0x76, 0x09, 0x8d, 0x8c, 0x4d, 0x60, 0xaa, 0x69, 0xc5, 0xa5,
+	0x4d, 0x70, 0x85, 0x1f, 0xc4, 0xf4, 0xfe, 0x29, 0xe6, 0xdd, 0x3f, 0xd3, 0xd8, 0x95, 0xde, 0x04,
+	0xbb, 0x9b, 0x20, 0x20, 0xeb, 0x32, 0x3f, 0x50, 0xcb, 0x7c, 0x2a, 0xab, 0xdc, 0x10, 0xfe, 0x31,
+	0xa6, 0xa1, 0x5b, 0xc9, 0x05, 0xdd, 0x6a, 0x6e, 0xe8, 0x2a, 0x57, 0x87, 0x0e, 0x16, 0x80, 0xae,
+	0xfa, 0x3f, 0x41, 0xb7, 0x6f, 0x9d, 0xc6, 0xd0, 0xfd, 0xaa, 0x80, 0x3a, 0x23, 0xe8, 0x10, 0xf7,
+	0x04, 0xfb, 0xa3, 0x7c, 0xe0, 0xc5, 0x13, 0xe8, 0x59, 0xa7, 0x9c, 0xb3, 0x68, 0x02, 0x21, 0xba,
+	0xd3, 0x33, 0x5e, 0x7e, 0x93, 0x19, 0x27, 0xdd, 0x2a, 0xfe, 0xf7, 0xf9, 0xd2, 0x86, 0xd6, 0xbc,
+	0x7a, 0xe2, 0xa2, 0xbf, 0x83, 0xb5, 0x23, 0xea, 0x7c, 0xe9, 0x0d, 0xc2, 0xde, 0xf5, 0xfc, 0xde,
+	0x88, 0xa2, 0x5b, 0x50, 0xe9, 0x8d, 0xd9, 0x90, 0xf8, 0x98, 0x05, 0xb2, 0xcc, 0xc4, 0x80, 0xf6,
+	0xa0, 0xec, 0x71, 0x9d, 0x3c, 0x89, 0x1b, 0xf3, 0x76, 0x87, 0x88, 0x26, 0x8b, 0x90, 0x3e, 0x8f,
+	0xaf, 0x87, 0xf9, 0x25, 0xd1, 0xda, 0x37, 0x60, 0x73, 0x6a, 0xf9, 0x28, 0xb3, 0xfb, 0xff, 0x14,
+	0x61, 0xf9, 0x88, 0x3a, 0xe8, 0x5b, 0x40, 0x19, 0x77, 0x86, 0x9d, 0x79, 0xcb, 0x66, 0x9e, 0xa8,
+	0xda, 0x87, 0x0b, 0xc9, 0xa3, 0x1c, 0xd0, 0xd7, 0xf0, 0xf6, 0xec, 0xe1, 0xfb, 0x7e, 0xee, 0x58,
+	0xc7, 0x7e, 0xa0, 0x7d, 0xb0, 0x88, 0x7a, 0xfe, 0xc2, 0x21, 0x41, 0xf9, 0x17, 0xde, 0xb7, 0x4e,
+	0x17, 0x58, 0x38, 0xb5, 0x09, 0xd0, 0x8f, 0x0a, 0xac, 0x67, 0xef, 0x80, 0x7b, 0xb9, 0xe3, 0x49,
+	0x0f, 0xed, 0xd1, 0xa2, 0x1e, 0x71, 0x16, 0x3e, 0x6c, 0x08, 0x26, 0x12, 0x99, 0x84, 0x73, 0xeb,
+	0x35, 0x31, 0xd3, 0x18, 0x69, 0x46, 0x4e, 0x61, 0xb4, 0xa6, 0x56, 0xfa, 0xfe, 0xd5, 0xf3, 0xbb,
+	0xca, 0xc1, 0xd3, 0x17, 0xe7, 0x0d, 0xe5, 0xe5, 0x79, 0x43, 0xf9, 0xeb, 0xbc, 0xa1, 0xfc, 0x72,
+	0xd1, 0x28, 0xbc, 0xbc, 0x68, 0x14, 0xfe, 0xb8, 0x68, 0x14, 0xbe, 0xda, 0x73, 0x30, 0x1b, 0x8e,
+	0xfb, 0xba, 0x45, 0x46, 0x86, 0xbc, 0x49, 0xe3, 0xbe, 0xb5, 0xe3, 0x10, 0x63, 0xf2, 0xd0, 0x18,
+	0x91, 0xc1, 0xf8, 0xcc, 0xa6, 0xe2, 0x26, 0x7c, 0xef, 0xc1, 0x4e, 0xea, 0x32, 0xcc, 0x02, 0xcf,
+	0xa6, 0xfd, 0x32, 0xff, 0xfb, 0x3f, 0xf8, 0x37, 0x00, 0x00, 0xff, 0xff, 0x4a, 0x09, 0xa7, 0xf6,
+	0xd4, 0x0b, 0x00, 0x00,
 }
 
 // Reference imports to suppress errors if they are not otherwise used.
@@ -470,6 +572,9 @@ type MsgClient interface {
 	// ConnectionOpenConfirm defines a rpc handler method for
 	// MsgConnectionOpenConfirm.
 	ConnectionOpenConfirm(ctx context.Context, in *MsgConnectionOpenConfirm, opts ...grpc.CallOption) (*MsgConnectionOpenConfirmResponse, error)
+	// UpdateConnectionParams defines a rpc handler method for
+	// MsgUpdateParams.
+	UpdateConnectionParams(ctx context.Context, in *MsgUpdateParams, opts ...grpc.CallOption) (*MsgUpdateParamsResponse, error)
 }
 
 type msgClient struct {
@@ -516,6 +621,15 @@ func (c *msgClient) ConnectionOpenConfirm(ctx context.Context, in *MsgConnection
 	return out, nil
 }
 
+func (c *msgClient) UpdateConnectionParams(ctx context.Context, in *MsgUpdateParams, opts ...grpc.CallOption) (*MsgUpdateParamsResponse, error) {
+	out := new(MsgUpdateParamsResponse)
+	err := c.cc.Invoke(ctx, "/ibc.core.connection.v1.Msg/UpdateConnectionParams", in, out, opts...)
+	if err != nil {
+		return nil, err
+	}
+	return out, nil
+}
+
 // MsgServer is the server API for Msg service.
 type MsgServer interface {
 	// ConnectionOpenInit defines a rpc handler method for MsgConnectionOpenInit.
@@ -527,6 +641,9 @@ type MsgServer interface {
 	// ConnectionOpenConfirm defines a rpc handler method for
 	// MsgConnectionOpenConfirm.
 	ConnectionOpenConfirm(context.Context, *MsgConnectionOpenConfirm) (*MsgConnectionOpenConfirmResponse, error)
+	// UpdateConnectionParams defines a rpc handler method for
+	// MsgUpdateParams.
+	UpdateConnectionParams(context.Context, *MsgUpdateParams) (*MsgUpdateParamsResponse, error)
 }
 
 // UnimplementedMsgServer can be embedded to have forward compatible implementations.
@@ -545,6 +662,9 @@ func (*UnimplementedMsgServer) ConnectionOpenAck(ctx context.Context, req *MsgCo
 func (*UnimplementedMsgServer) ConnectionOpenConfirm(ctx context.Context, req *MsgConnectionOpenConfirm) (*MsgConnectionOpenConfirmResponse, error) {
 	return nil, status.Errorf(codes.Unimplemented, "method ConnectionOpenConfirm not implemented")
 }
+func (*UnimplementedMsgServer) UpdateConnectionParams(ctx context.Context, req *MsgUpdateParams) (*MsgUpdateParamsResponse, error) {
+	return nil, status.Errorf(codes.Unimplemented, "method UpdateConnectionParams not implemented")
+}
 
 func RegisterMsgServer(s grpc1.Server, srv MsgServer) {
 	s.RegisterService(&_Msg_serviceDesc, srv)
@@ -622,6 +742,24 @@ func _Msg_ConnectionOpenConfirm_Handler(srv interface{}, ctx context.Context, de
 	return interceptor(ctx, in, info, handler)
 }
 
+func _Msg_UpdateConnectionParams_Handler(srv interface{}, ctx context.Context, dec func(interface{}) error, interceptor grpc.UnaryServerInterceptor) (interface{}, error) {
+	in := new(MsgUpdateParams)
+	if err := dec(in); err != nil {
+		return nil, err
+	}
+	if interceptor == nil {
+		return srv.(MsgServer).UpdateConnectionParams(ctx, in)
+	}
+	info := &grpc.UnaryServerInfo{
+		Server:     srv,
+		FullMethod: "/ibc.core.connection.v1.Msg/UpdateConnectionParams",
+	}
+	handler := func(ctx context.Context, req interface{}) (interface{}, error) {
+		return srv.(MsgServer).UpdateConnectionParams(ctx, req.(*MsgUpdateParams))
+	}
+	return interceptor(ctx, in, info, handler)
+}
+
 var _Msg_serviceDesc = grpc.ServiceDesc{
 	ServiceName: "ibc.core.connection.v1.Msg",
 	HandlerType: (*MsgServer)(nil),
@@ -642,6 +780,10 @@ var _Msg_serviceDesc = grpc.ServiceDesc{
 			MethodName: "ConnectionOpenConfirm",
 			Handler:    _Msg_ConnectionOpenConfirm_Handler,
 		},
+		{
+			MethodName: "UpdateConnectionParams",
+			Handler:    _Msg_UpdateConnectionParams_Handler,
+		},
 	},
 	Streams:  []grpc.StreamDesc{},
 	Metadata: "ibc/core/connection/v1/tx.proto",
@@ -1106,6 +1248,69 @@ func (m *MsgConnectionOpenConfirmResponse) MarshalToSizedBuffer(dAtA []byte) (in
 	return len(dAtA) - i, nil
 }
 
+func (m *MsgUpdateParams) Marshal() (dAtA []byte, err error) {
+	size := m.Size()
+	dAtA = make([]byte, size)
+	n, err := m.MarshalToSizedBuffer(dAtA[:size])
+	if err != nil {
+		return nil, err
+	}
+	return dAtA[:n], nil
+}
+
+func (m *MsgUpdateParams) MarshalTo(dAtA []byte) (int, error) {
+	size := m.Size()
+	return m.MarshalToSizedBuffer(dAtA[:size])
+}
+
+func (m *MsgUpdateParams) MarshalToSizedBuffer(dAtA []byte) (int, error) {
+	i := len(dAtA)
+	_ = i
+	var l int
+	_ = l
+	{
+		size, err := m.Params.MarshalToSizedBuffer(dAtA[:i])
+		if err != nil {
+			return 0, err
+		}
+		i -= size
+		i = encodeVarintTx(dAtA, i, uint64(size))
+	}
+	i--
+	dAtA[i] = 0x12
+	if len(m.Authority) > 0 {
+		i -= len(m.Authority)
+		copy(dAtA[i:], m.Authority)
+		i = encodeVarintTx(dAtA, i, uint64(len(m.Authority)))
+		i--
+		dAtA[i] = 0xa
+	}
+	return len(dAtA) - i, nil
+}
+
+func (m *MsgUpdateParamsResponse) Marshal() (dAtA []byte, err error) {
+	size := m.Size()
+	dAtA = make([]byte, size)
+	n, err := m.MarshalToSizedBuffer(dAtA[:size])
+	if err != nil {
+		return nil, err
+	}
+	return dAtA[:n], nil
+}
+
+func (m *MsgUpdateParamsResponse) MarshalTo(dAtA []byte) (int, error) {
+	size := m.Size()
+	return m.MarshalToSizedBuffer(dAtA[:size])
+}
+
+func (m *MsgUpdateParamsResponse) MarshalToSizedBuffer(dAtA []byte) (int, error) {
+	i := len(dAtA)
+	_ = i
+	var l int
+	_ = l
+	return len(dAtA) - i, nil
+}
+
 func encodeVarintTx(dAtA []byte, offset int, v uint64) int {
 	offset -= sovTx(v)
 	base := offset
@@ -1307,6 +1512,30 @@ func (m *MsgConnectionOpenConfirmResponse) Size() (n int) {
 	return n
 }
 
+func (m *MsgUpdateParams) Size() (n int) {
+	if m == nil {
+		return 0
+	}
+	var l int
+	_ = l
+	l = len(m.Authority)
+	if l > 0 {
+		n += 1 + l + sovTx(uint64(l))
+	}
+	l = m.Params.Size()
+	n += 1 + l + sovTx(uint64(l))
+	return n
+}
+
+func (m *MsgUpdateParamsResponse) Size() (n int) {
+	if m == nil {
+		return 0
+	}
+	var l int
+	_ = l
+	return n
+}
+
 func sovTx(x uint64) (n int) {
 	return (math_bits.Len64(x|1) + 6) / 7
 }
@@ -2786,6 +3015,171 @@ func (m *MsgConnectionOpenConfirmResponse) Unmarshal(dAtA []byte) error {
 	}
 	return nil
 }
+func (m *MsgUpdateParams) Unmarshal(dAtA []byte) error {
+	l := len(dAtA)
+	iNdEx := 0
+	for iNdEx < l {
+		preIndex := iNdEx
+		var wire uint64
+		for shift := uint(0); ; shift += 7 {
+			if shift >= 64 {
+				return ErrIntOverflowTx
+			}
+			if iNdEx >= l {
+				return io.ErrUnexpectedEOF
+			}
+			b := dAtA[iNdEx]
+			iNdEx++
+			wire |= uint64(b&0x7F) << shift
+			if b < 0x80 {
+				break
+			}
+		}
+		fieldNum := int32(wire >> 3)
+		wireType := int(wire & 0x7)
+		if wireType == 4 {
+			return fmt.Errorf("proto: MsgUpdateParams: wiretype end group for non-group")
+		}
+		if fieldNum <= 0 {
+			return fmt.Errorf("proto: MsgUpdateParams: illegal tag %d (wire type %d)", fieldNum, wire)
+		}
+		switch fieldNum {
+		case 1:
+			if wireType != 2 {
+				return fmt.Errorf("proto: wrong wireType = %d for field Authority", wireType)
+			}
+			var stringLen uint64
+			for shift := uint(0); ; shift += 7 {
+				if shift >= 64 {
+					return ErrIntOverflowTx
+				}
+				if iNdEx >= l {
+					return io.ErrUnexpectedEOF
+				}
+				b := dAtA[iNdEx]
+				iNdEx++
+				stringLen |= uint64(b&0x7F) << shift
+				if b < 0x80 {
+					break
+				}
+			}
+			intStringLen := int(stringLen)
+			if intStringLen < 0 {
+				return ErrInvalidLengthTx
+			}
+			postIndex := iNdEx + intStringLen
+			if postIndex < 0 {
+				return ErrInvalidLengthTx
+			}
+			if postIndex > l {
+				return io.ErrUnexpectedEOF
+			}
+			m.Authority = string(dAtA[iNdEx:postIndex])
+			iNdEx = postIndex
+		case 2:
+			if wireType != 2 {
+				return fmt.Errorf("proto: wrong wireType = %d for field Params", wireType)
+			}
+			var msglen int
+			for shift := uint(0); ; shift += 7 {
+				if shift >= 64 {
+					return ErrIntOverflowTx
+				}
+				if iNdEx >= l {
+					return io.ErrUnexpectedEOF
+				}
+				b := dAtA[iNdEx]
+				iNdEx++
+				msglen |= int(b&0x7F) << shift
+				if b < 0x80 {
+					break
+				}
+			}
+			if msglen < 0 {
+				return ErrInvalidLengthTx
+			}
+			postIndex := iNdEx + msglen
+			if postIndex < 0 {
+				return ErrInvalidLengthTx
+			}
+			if postIndex > l {
+				return io.ErrUnexpectedEOF
+			}
+			if err := m.Params.Unmarshal(dAtA[iNdEx:postIndex]); err != nil {
+				return err
+			}
+			iNdEx = postIndex
+		default:
+			iNdEx = preIndex
+			skippy, err := skipTx(dAtA[iNdEx:])
+			if err != nil {
+				return err
+			}
+			if (skippy < 0) || (iNdEx+skippy) < 0 {
+				return ErrInvalidLengthTx
+			}
+			if (iNdEx + skippy) > l {
+				return io.ErrUnexpectedEOF
+			}
+			iNdEx += skippy
+		}
+	}
+
+	if iNdEx > l {
+		return io.ErrUnexpectedEOF
+	}
+	return nil
+}
+func (m *MsgUpdateParamsResponse) Unmarshal(dAtA []byte) error {
+	l := len(dAtA)
+	iNdEx := 0
+	for iNdEx < l {
+		preIndex := iNdEx
+		var wire uint64
+		for shift := uint(0); ; shift += 7 {
+			if shift >= 64 {
+				return ErrIntOverflowTx
+			}
+			if iNdEx >= l {
+				return io.ErrUnexpectedEOF
+			}
+			b := dAtA[iNdEx]
+			iNdEx++
+			wire |= uint64(b&0x7F) << shift
+			if b < 0x80 {
+				break
+			}
+		}
+		fieldNum := int32(wire >> 3)
+		wireType := int(wire & 0x7)
+		if wireType == 4 {
+			return fmt.Errorf("proto: MsgUpdateParamsResponse: wiretype end group for non-group")
+		}
+		if fieldNum <= 0 {
+			return fmt.Errorf("proto: MsgUpdateParamsResponse: illegal tag %d (wire type %d)", fieldNum, wire)
+		}
+		switch fieldNum {
+		default:
+			iNdEx = preIndex
+			skippy, err := skipTx(dAtA[iNdEx:])
+			if err != nil {
+				return err
+			}
+			if (skippy < 0) || (iNdEx+skippy) < 0 {
+				return ErrInvalidLengthTx
+			}
+			if (iNdEx + skippy) > l {
+				return io.ErrUnexpectedEOF
+			}
+			iNdEx += skippy
+		}
+	}
+
+	if iNdEx > l {
+		return io.ErrUnexpectedEOF
+	}
+	return nil
+}
 func skipTx(dAtA []byte) (n int, err error) {
 	l := len(dAtA)
 	iNdEx := 0
diff --git a/modules/core/keeper/keeper.go b/modules/core/keeper/keeper.go
index 1eefcdc2b3d..fb2583a72c4 100644
--- a/modules/core/keeper/keeper.go
+++ b/modules/core/keeper/keeper.go
@@ -95,7 +95,7 @@ func (k *Keeper) SetRouter(rtr *porttypes.Router) {
 	k.Router.Seal()
 }
 
-// GetAuthority returns the client submodule's authority.
+// GetAuthority returns the ibc module's authority.
 func (k Keeper) GetAuthority() string {
 	return k.authority
 }
diff --git a/modules/core/keeper/msg_server.go b/modules/core/keeper/msg_server.go
index c6544fd0cd7..c75f11b8d87 100644
--- a/modules/core/keeper/msg_server.go
+++ b/modules/core/keeper/msg_server.go
@@ -706,3 +706,15 @@ func (k Keeper) UpdateClientParams(goCtx context.Context, msg *clienttypes.MsgUp
 
 	return &clienttypes.MsgUpdateParamsResponse{}, nil
 }
+
+// UpdateConnectionParams defines a rpc handler method for MsgUpdateParams for the 03-connection submodule.
+func (k Keeper) UpdateConnectionParams(goCtx context.Context, msg *connectiontypes.MsgUpdateParams) (*connectiontypes.MsgUpdateParamsResponse, error) {
+	if k.GetAuthority() != msg.Authority {
+		return nil, errorsmod.Wrapf(ibcerrors.ErrUnauthorized, "expected %s, got %s", k.GetAuthority(), msg.Authority)
+	}
+
+	ctx := sdk.UnwrapSDKContext(goCtx)
+	k.ConnectionKeeper.SetParams(ctx, msg.Params)
+
+	return &connectiontypes.MsgUpdateParamsResponse{}, nil
+}
diff --git a/modules/core/keeper/msg_server_test.go b/modules/core/keeper/msg_server_test.go
index 2dde4db00fb..e1acbe74f1f 100644
--- a/modules/core/keeper/msg_server_test.go
+++ b/modules/core/keeper/msg_server_test.go
@@ -5,6 +5,7 @@ import (
 	upgradetypes "github.com/cosmos/cosmos-sdk/x/upgrade/types"
 
 	clienttypes "github.com/cosmos/ibc-go/v7/modules/core/02-client/types"
+	connectiontypes "github.com/cosmos/ibc-go/v7/modules/core/03-connection/types"
 	channeltypes "github.com/cosmos/ibc-go/v7/modules/core/04-channel/types"
 	commitmenttypes "github.com/cosmos/ibc-go/v7/modules/core/23-commitment/types"
 	host "github.com/cosmos/ibc-go/v7/modules/core/24-host"
@@ -825,3 +826,54 @@ func (suite *KeeperTestSuite) TestUpdateClientParams() {
 		})
 	}
 }
+
+// TestUpdateConnectionParams tests the UpdateConnectionParams rpc handler
+func (suite *KeeperTestSuite) TestUpdateConnectionParams() {
+	validAuthority := suite.chainA.App.GetIBCKeeper().GetAuthority()
+	testCases := []struct {
+		name    string
+		msg     *connectiontypes.MsgUpdateParams
+		expPass bool
+	}{
+		{
+			"success: valid authority and default params",
+			connectiontypes.NewMsgUpdateParams(validAuthority, connectiontypes.DefaultParams()),
+			true,
+		},
+		{
+			"failure: malformed authority address",
+			connectiontypes.NewMsgUpdateParams(ibctesting.InvalidID, connectiontypes.DefaultParams()),
+			false,
+		},
+		{
+			"failure: empty authority address",
+			connectiontypes.NewMsgUpdateParams("", connectiontypes.DefaultParams()),
+			false,
+		},
+		{
+			"failure: whitespace authority address",
+			connectiontypes.NewMsgUpdateParams("    ", connectiontypes.DefaultParams()),
+			false,
+		},
+		{
+			"failure: unauthorized authority address",
+			connectiontypes.NewMsgUpdateParams(ibctesting.TestAccAddress, connectiontypes.DefaultParams()),
+			false,
+		},
+	}
+
+	for _, tc := range testCases {
+		tc := tc
+		suite.Run(tc.name, func() {
+			suite.SetupTest()
+			_, err := keeper.Keeper.UpdateConnectionParams(*suite.chainA.App.GetIBCKeeper(), suite.chainA.GetContext(), tc.msg)
+			if tc.expPass {
+				suite.Require().NoError(err)
+				p := suite.chainA.App.GetIBCKeeper().ConnectionKeeper.GetParams(suite.chainA.GetContext())
+				suite.Require().Equal(tc.msg.Params, p)
+			} else {
+				suite.Require().Error(err)
+			}
+		})
+	}
+}
diff --git a/modules/core/module.go b/modules/core/module.go
index 1abee13facd..08bec4991fb 100644
--- a/modules/core/module.go
+++ b/modules/core/module.go
@@ -138,7 +138,13 @@ func (am AppModule) RegisterServices(cfg module.Configurator) {
 		panic(err)
 	}
 
-	if err := cfg.RegisterMigration(exported.ModuleName, 4, clientMigrator.MigrateParams); err != nil {
+	if err := cfg.RegisterMigration(exported.ModuleName, 4, func(ctx sdk.Context) error {
+		if err := clientMigrator.MigrateParams(ctx); err != nil {
+			return err
+		}
+
+		return connectionMigrator.MigrateParams(ctx)
+	}); err != nil {
 		panic(err)
 	}
 }
diff --git a/proto/ibc/core/connection/v1/tx.proto b/proto/ibc/core/connection/v1/tx.proto
index 5125da1ef99..f1aaeea7b67 100644
--- a/proto/ibc/core/connection/v1/tx.proto
+++ b/proto/ibc/core/connection/v1/tx.proto
@@ -26,6 +26,10 @@ service Msg {
   // ConnectionOpenConfirm defines a rpc handler method for
   // MsgConnectionOpenConfirm.
   rpc ConnectionOpenConfirm(MsgConnectionOpenConfirm) returns (MsgConnectionOpenConfirmResponse);
+
+  // UpdateConnectionParams defines a rpc handler method for
+  // MsgUpdateParams.
+  rpc UpdateConnectionParams(MsgUpdateParams) returns (MsgUpdateParamsResponse);
 }
 
 // MsgConnectionOpenInit defines the msg sent by an account on Chain A to
@@ -126,3 +130,19 @@ message MsgConnectionOpenConfirm {
 // MsgConnectionOpenConfirmResponse defines the Msg/ConnectionOpenConfirm
 // response type.
 message MsgConnectionOpenConfirmResponse {}
+
+// MsgUpdateParams defines the sdk.Msg type to update the connection parameters.
+message MsgUpdateParams {
+  option (cosmos.msg.v1.signer) = "authority";
+
+  // authority is the address that controls the module (defaults to x/gov unless overwritten).
+  string authority = 1;
+
+  // params defines the connection parameters to update.
+  //
+  // NOTE: All parameters must be supplied.
+  Params params = 2 [(gogoproto.nullable) = false];
+}
+
+// MsgUpdateParamsResponse defines the MsgUpdateParams response type.
+message MsgUpdateParamsResponse {}
\ No newline at end of file