Year 324 (CCCXXIV) was a leap year starting on Wednesday (link will display the full calendar) of the Julian calendar. At the time, it was known as the Year of the Consulship of Crispus and Constantinus (or, less frequently, year 1077 Ab urbe condita). The denomination 324 for this year has been used since the early medieval period, when the Anno Dominicalendar era became the prevalent method in Europe for naming years.
July – Battle of the Hellespont: Crispus destroys Licinius' naval fleet in the Dardanelles, allowing his father Constantine the ability to cross over the Bosphorus into Asian provinces. Byzantium is besieged and Licinius assembles a second military force, under his newly elevated co-emperor Martinian at Lampsacus (modern-day Lapseki).[1]
December 19 – Licinius abdicates his position as Emperor. He is pardoned by Constantine I as a result of the supplication of his wife Constantia (who is Constantine's halfsister), and banished to Thessalonica as a private citizen.
Constantine I founds Constantinople and incorporates Byzantium into the new capital. He reorganises the Roman army in smaller units classified into three grades: palatini, (imperial escort armies); comitatenses, (forces based in frontier provinces) and limitanei (auxilia border troops).[2]