The Milestones of Ethereum
The launch process of Ethereum is divided into 4 milestonesphases (the release steps) in order to give the development a structure and thus to proceed as quickly as possible. You can find the original plan in English here: Ethereum Launch Process. We have summarized the four main milestones for you:
Phase 1: Frontier Release
Frontier is the Ethereum network in its most minimalistic form. An interface in the form of a command line (command line) for merging ethers and for uploading and executing Ether Contracts. Miners can configure and start their mining rigs. Trade exchanges may include ether to trade. With the Frontier release, people can test Dapps for the first time and purchase Ether to upload their own software in Ethereum. Ethereum is referred to herein as “A SAFE DECENTRALIZED SOFTWARE PLATFORM” wherein the word “SAFE” is red-crossed.
Phase 2: Homestead Release
The Homestead Phase was initiated after Frontier was extensively tested and classified by the core developers as stable and safe. In this phase, the red “SAFE” was removed. Ethereum is now considered “safe”. The development stage of Ethereum remains beta in this phase. From the Homestead release, the first major projects in Ethereum are being developed and implemented.
Phase 3: Metropolis Release
The Metropolis phase will be reached as soon as an official interface is released for technically inexperienced users. Similarly, Mist is to be introduced and its own dapp store. This is expected to include some fully functional programs designed to demonstrate the strength of the Ethereum network. Between the Homestead and the Metropolis release, there will probably be one or more intermediate steps. Metropolis will be implemented in two steps:
Phase 4: Serenity Release
Serenity is the fourth and final phase of Ethereum. Because PoW (Proof of Work) entails an enormous waste of energy, the developers want to find an alternative in this phase. The Ethereum Nezwerk is expected to be converted from PoW to PoS (Proof of Stake). Apart from this, the network should be faster, more efficient, easier for beginners and more resilient against the closure of mining capacity.