Introduced in 2001 by Lions, Maday and Turinici and one of the most widely studied time-parallel methods [1]. See also the corresponding entry on Wikipedia.

  1. J.-L. Lions, Y. Maday, and G. Turinici, “A ‘parareal’ in time discretization of PDE’s,” Comptes Rendus de l’Académie des Sciences - Series I - Mathematics, vol. 332, pp. 661–668, 2001 [Online]. Available at: http://dx.doi.org/10.1016/S0764-4442(00)01793-6
    @article{LionsEtAl2001,
      author = {Lions, J.-L. and Maday, Yvon and Turinici, Gabriel},
      journal = {Comptes Rendus de l'Académie des Sciences - Series I - Mathematics},
      pages = {661--668},
      title = {{A "parareal" in time discretization of {PDE}'s}},
      url = {http://dx.doi.org/10.1016/S0764-4442(00)01793-6},
      volume = {332},
      year = {2001}
    }