Byzantion: Ancient Greek City on the Bosphorus

Byzantion was an ancient Greek city-state, considered the earliest ancestor of modern-day Istanbul. It was strategically located on the eastern tip of the historic peninsula.

Byzantion was founded by seafaring colonists from Megara, an ancient Greek city-state. Its legendary founder and king is said to be Byzas, from whom the city's name is believed to derive.

The city's founding is generally dated to the mid-7th century BCE, with specific dates varying across historical sources, including 657 BCE, 667 BCE, or 660 BCE.

Its location was highly strategic, positioned as the sole entry point to the Black Sea and possessing a deep, sheltered harbor known as the Haliç (Golden Horn). This gave the city a key role in controlling trade between the Aegean and Black Seas, as well as land and sea routes connecting Europe and Asia.

Port life and maritime activities formed the foundation of Byzantion's economy and prosperity. The city earned significant income from high transit fees levied on merchant ships passing through the Bosphorus. Fishing, particularly for bonito, was also crucial, becoming a symbol of the city and appearing on its coinage.

Among Byzantion's known ports were Prosphorion and Neorion. Prosphorion Port was especially important for grain trade, with new warehouses built there. By the 4th century CE, two additional ports were constructed at Kadırga and Yenikapı.

Byzantion derived substantial income from collecting high transit fees from trading vessels navigating the Bosphorus. Additionally, professions like fishermen and salt merchants contributed significantly, paying one-third of their earnings in taxes. Its self-sufficient economy allowed it to thrive even during challenging periods.

While founded by Greek colonists from Megara, some perspectives suggest that due to the presence of Thracian and Anatolian elements, it might not be entirely accurate to consider Byzantion exclusively a Greek colony.