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Off recent, there has been an increased interest in reducing computing processors powers and improve system throughout. This has led to the design and redesign of multicore processors that have been rolled out to meet the ever increasing computational problems. Complex problems have emerged in the IT and ICT world which have led to the evolution of traditional computing environments in order to meet today’s demand. Most of the traditional computing processors were homogenous i.e. they had the same characteristics. Homogenous processing environments were overwhelmed by the increasing work load which led to the evolution of heterogeneous processing environments. These have different characteristics for the same processor unlike the homogenous processors. The aim of this paper is to bring out the differences between the parallel computing which includes clusters, grids and cloud processing environments and serial computing which includes homogenous and heterogeneous computing environments.