Vitalik Buterin ( ) conceptualized Ethereum in November, 2013.
The critical idea proposed was https://vitalik.ca the development of a Turing-complete language that allows the development of arbitrary programs (smart contracts) for blockchain and decentralized applications.
A Complete Guide to Understanding This Blockchain Concept (Part 2)
This concept is in contrast to Bitcoin, where the scripting language is limited in nature and allows necessary operations only.
The following table shows all the releases of Ethereum starting from the first release to the planned final release: Version Release date Olympic May, 2015 Frontier July 30, 2015 Homestead March 14, 2016 Byzantium (first phase of Metropolis) October 16, 2017 Metropolis To be released Serenity (final version of Ethereum) To be released The first version of Ethereum, called Olympic, was released in May, 2015.
Two months later, a version of Ethereum called Frontier was released in July, 2015.
After about a year of this release, another version named Homestead with various improvements was released in March, 2016.
Latest Ethereum release is called Byzantium which is the first part of the development phase of Ethereum called Metropolis.
This release implemented a planned hard fork at block number 4,370,000 on October 16, 2017.
Why This Matters for Blockchain Technology
The second part of this release called Constantinople is expected in 2018 but there is no exact time frame available yet.
The final planned release of Ethereum is called Serenity and is envisaged to introduce the final version of PoS based blockchain instead of PoW.
Byzantium, which
Formal specification of Ethereum has been described in the yellow paper which can be used to develop Ethereum implementations.
Key Points to Remember
- Introduction Vitalik Buterin ( ) conceptualized Ethereum in November, 2013.
- The critical idea proposed was https://vitalik.ca the development of a Turing-complete language that allows the development of arbitrary programs (smart contracts) for blockchain and decentralized applications.
- This concept is in contrast to Bitcoin, where the scripting language is limited in nature and allows necessary operations only.
- Two months later, a version of Ethereum called Frontier was released in July, 2015.
Going Deeper: Advanced Concepts
Introduction Vitalik Buterin ( ) conceptualized Ethereum in November, 2013. The critical idea proposed was https://vitalik.ca the development of a Turing-complete language that allows the development of arbitrary programs (smart contracts) for blockchain and decentralized applications. This concept is in contrast to Bitcoin, where the scripting language is limited in nature and allows necessary operations only. The following table shows all the releases of Ethereum starting from the first release to the planned final release: Version Release date Olympic May, 2015 Frontier July 30, 2015 Homestead March 14, 2016 Byzantium (first phase of Metropolis) October 16, 2017 Metropolis To be released Serenity (final version of Ethereum) To be released The first version of Ethereum, called Olympic, was released in May, 2015. Two months later, a version of Ethereum called Frontier was released in July, 2015. After about a year of this release, another version named Homestead with various improvements was released in March, 2016. Latest Ethereum release is called Byzantium which is the first part of the development phase of Ethereum called Metropolis. This release implemented a planned hard fork at block number 4,370,000 on October 16, 2017. The second part of this release called Constantinople is expected in 2018 but there is no exact time frame available yet. The final planned release of Ethereum is called Serenity and is envisaged to introduce the final version of PoS based blockchain instead of PoW. Byzantium, which Formal specification of Ethereum has been described in the yellow paper which can be used to develop Ethereum implementations. We briefly touch on this subject here.
Conclusion
Introduction represents one of the many innovative layers that make blockchain technology so powerful and transformative. As distributed systems continue to evolve, a solid understanding of these core concepts becomes increasingly valuable — not just for developers, but for anyone building, investing in, or working alongside blockchain-powered systems.
Whether you are just starting your blockchain journey or deepening existing expertise, mastering these fundamentals gives you the tools to think clearly about decentralized systems and make smarter decisions in this rapidly evolving space.