SHA-256 is the "padlock" mechanism inside cryptocurrencies like Bitcoin, and while it does the job for now, its based on a complexity generating engine that has some faults, namely different inputs giving the same outputs technically called collisions. The Secure Hashing Algorithm has also a recorded history of obsolescence over time and was invented by a government agency. However the iteration of the function f(z)=z^2+c also known as the Mandelbrot set can naturally create a similar cryptographic mechanism.
The M set has a natural cryptography in the sense that all images have one unique Julia and numerical coordinates as a counterpart. A unique output corresponds to a unique input, there is no way of producing exact coordinates from an M set or Julia plot, so unless you know those coordinates they cant otherwise be known as being associated with the image. With some programming effort they can behave like public and private keys. An M set based cryptocurrency can be mined by digitally recording the fractal, so if it gets recorded it can also record transactions.
Suppose you have some coordinates of a deep zoom, you then have the ability to create the exact image counterpart from the numbers but not the numbers from the image. However they will get ultimately recorded on the M set blockchain at some point in the future, wallets therefore naturally expire after a number of years, which in turn makes for an unexpected solution. By wallets having an expiration time, private keys can be rediscovered by mining the fractal, funds will be eventually fed back into the crypto ecosystem.
The M set generates inexhaustible amounts of data, yet there exists a scarcity element as well, albeit only a man-made one, this being how much data can be recorded. This limit ultimately corresponds to Moore's law curve. This natural yet artificial scarcity element makes the M set a candidate for behaving like a cryptocurrency. The coin supply is ultimately set by how big our digital baskets be to receive this exotic fruit from this digital cornucopia. As the shores of the M set ocean recede, baskets will start to get small in the face of perpetual novel data generosity.
Computers used for mining could be dreaming about infinity while delivering the same blockchain economic technology. This incredibly enormous computing power can be employed to navigate in a sea of infinite novelty instead. After all, this M set phenomena was only discovered after computers came into existence, so its their dream time in more than one way. Perhaps we are not yet aware of the wider potential of one of the most enigmatic of all guests that has recently arrived to the digital party. Recording the M set may be a future seven wonders of the digital world as well.
Even Arthur C. Clark predicted in his film "Fractals the colors of infinity" that “Fractal geometry, has enormous commercial value”. https://vimeo.com/15506693#t=1883s
NOTICE TO EU RESIDENTS: per EU Data Protection Policy, if you wish to remove your personal information from the IBM ideas portal, please login to the ideas portal using your previously registered information then change your email to "email@example.com" and first name to "anonymous" and last name to "anonymous". This will ensure that IBM will not send any emails to you about all idea submissions