diff --git a/configure.ac b/configure.ac
index 7130b85..db3ff25 100644
--- a/configure.ac
+++ b/configure.ac
@@ -5,7 +5,7 @@ AC_PREREQ([2.60])
 # backwards-compatible and therefore at most increase the minor version.
 define(_PKG_VERSION_MAJOR, 0)
 define(_PKG_VERSION_MINOR, 1)
-define(_PKG_VERSION_BUILD, 0)
+define(_PKG_VERSION_PATCH, 0)
 define(_PKG_VERSION_IS_RELEASE, false)
 
 # The library version is based on libtool versioning of the ABI. The set of
@@ -17,7 +17,7 @@ define(_LIB_VERSION_CURRENT, 0)
 define(_LIB_VERSION_REVISION, 0)
 define(_LIB_VERSION_AGE, 0)
 
-AC_INIT([libsecp256k1],m4_join([.], _PKG_VERSION_MAJOR, _PKG_VERSION_MINOR, _PKG_VERSION_BUILD)m4_if(_PKG_VERSION_IS_RELEASE, [true], [], [-pre]),[https://github.com/bitcoin-core/secp256k1/issues],[libsecp256k1],[https://github.com/bitcoin-core/secp256k1])
+AC_INIT([libsecp256k1],m4_join([.], _PKG_VERSION_MAJOR, _PKG_VERSION_MINOR, _PKG_VERSION_PATCH)m4_if(_PKG_VERSION_IS_RELEASE, [true], [], [-dev]),[https://github.com/bitcoin-core/secp256k1/issues],[libsecp256k1],[https://github.com/bitcoin-core/secp256k1])
 
 AC_CONFIG_AUX_DIR([build-aux])
 AC_CONFIG_MACRO_DIR([build-aux/m4])
diff --git a/doc/release-process.md b/doc/release-process.md
index 8e4809d..b7819d9 100644
--- a/doc/release-process.md
+++ b/doc/release-process.md
@@ -8,7 +8,7 @@
      Make sure that the branch contains the right commits.
      Create commit on the release branch that sets `_PKG_VERSION_IS_RELEASE` in `configure.ac` to `true`.
    * if this **is** a patch release, open a pull request with the bugfixes to the `MAJOR.MINOR` branch.
-     Also include the release note commit bump `_PKG_VERSION_BUILD` and `_LIB_VERSIONS_*` in `configure.ac`.
+     Also include the release note commit bump `_PKG_VERSION_PATCH` and `_LIB_VERSIONS_*` in `configure.ac`.
 4. Tag the commit with `git tag -s vMAJOR.MINOR.PATCH`.
 5. Push branch and tag with `git push origin --tags`.
 6. Create a new GitHub release with a link to the corresponding entry in `CHANGELOG.md`.