Vernalization is the process by which flowering is promoted through a period of cold temperature exposure. It involves the perception of cold, which results in the formation of a floral hormone called vernalin. Vernalization requires specific conditions like the age of the plant, duration and temperature of cold exposure, oxygen, sugar, and water. There are two main theories that explain its mechanism - the phasic development theory which proposes vernalization accelerates a developmental phase, and the hormonal theory which suggests it converts a precursor into the flowering hormone vernalin. Vernalization is significant for crop improvement by converting winter varieties to spring varieties and inducing early flowering.