When Constantinople colonized Arcturus, they were looking far into the future.  It was the farthest colony from Earth at the time, on the edge of the interstellar dust cloud that slows travel around Earth and the other nearby star systems.  Any ship that made it to Arcturus could refuel, resupply, and then move out far faster than they could anywhere else, and it became a port of call and center of trade for long-range starships.  They named it Byzantium.