Ethereum is still developing, slowly surely, but with deliberate purpose. The stages of Ethereum have been well documented and are set to roll out in four milestones. Frontier, Homestead, Metropolis, and Serenity.
Frontier is the most minimal form for the Ethereum network to take. This was a basic stage for Ethereum, allowing the creation of smart contracts by having Ethereum merged into an immutable smart contract. The first step in creating businesses on the Ethereum blockchain.
Miners were able to configure and start their machines. (Rigs) Trade exchanges were able to start trading Ethereum without creating a token. Which they have done with subsequent releases like Quantum (QTUM)
With this release, people can test Ethereum’s decentralised applications (Dapps) They were also allowed to upload their own software in order to create this application.
This phase was essentially the success of their test net. With the network tested extensively and given the tick of approval by its core developers. This meant that the network was safe and sound, ready for major projects to be developed and implemented.
The Metropolis phase will be reached as soon as an interface is created for technically inexperienced users. This will allow users to pay a fee in fiat currency to make changes they require.
Mist will be released, which will basically become an App Store or Dapp store in this case. This will include fully functional programs which will show the robust nature and solidity of the Ethereum network. Between Homestead and Metropolis, there have been required intermediary steps.
Serenity will be the final phase in this iteration of the Ethereum network. With the network moving from proof of work to proof of stake. This will allow for the network to become faster, more robust and more accessible.
What’s the difference between this and Bitcoin? Essentially it’s a plan, a well thought out and extensive one. With Bitcoin constantly reacting to its limitations. Ethereum knows what it is, where it is going and mostly, how it’s going to get there.
Be like Ethereum.