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Article

Inflation Propensity of Collatz Orbits: A New Proof-of-Work for Blockchain Applications

Independent Researcher, Jackson Height, NY 11372, USA
J. Risk Financial Manag. 2018, 11(4), 83; https://doi.org/10.3390/jrfm11040083
Received: 20 September 2018 / Revised: 16 November 2018 / Accepted: 19 November 2018 / Published: 27 November 2018
(This article belongs to the Special Issue Alternative Assets and Cryptocurrencies)
Cryptocurrencies such as Bitcoin rely on a proof-of-work system to validate transactions and prevent attacks or double-spending. A new proof-of-work is introduced which seems to be the first number theoretic proof-of-work unrelated to primes: it is based on a new metric associated to the Collatz algorithm whose natural generalization is algorithmically undecidable: the inflation propensity is defined as the cardinality of new maxima in a developing Collatz orbit. It is numerically verified that the distribution of inflation propensity slowly converges to a geometric distribution of parameter 0.714 ( π 1 ) 3 as the sample size increases. This pseudo-randomness opens the door to a new class of proofs-of-work based on congruential graphs. View Full-Text
Keywords: geometric distribution; collatz conjecture; inflation propensity; systemic risk; cryptocurrency; blockchain; proof-of-work geometric distribution; collatz conjecture; inflation propensity; systemic risk; cryptocurrency; blockchain; proof-of-work
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MDPI and ACS Style

Bocart, F. Inflation Propensity of Collatz Orbits: A New Proof-of-Work for Blockchain Applications. J. Risk Financial Manag. 2018, 11, 83. https://doi.org/10.3390/jrfm11040083

AMA Style

Bocart F. Inflation Propensity of Collatz Orbits: A New Proof-of-Work for Blockchain Applications. Journal of Risk and Financial Management. 2018; 11(4):83. https://doi.org/10.3390/jrfm11040083

Chicago/Turabian Style

Bocart, Fabian. 2018. "Inflation Propensity of Collatz Orbits: A New Proof-of-Work for Blockchain Applications" Journal of Risk and Financial Management 11, no. 4: 83. https://doi.org/10.3390/jrfm11040083

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