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J. Risk Financial Manag. 2018, 11(4), 83; https://doi.org/10.3390/jrfm11040083

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

Independent Researcher, Jackson Height, NY 11372, USA
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)
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Abstract

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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This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited (CC BY 4.0).
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Bocart, F. Inflation Propensity of Collatz Orbits: A New Proof-of-Work for Blockchain Applications. J. Risk Financial Manag. 2018, 11, 83.

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