The Lorenz system has attracted increasing attention on the issue of its simplification in order to produce the simplest three-dimensional chaotic systems suitable for secure information processing. Meanwhile, Sprott’s work on elegant chaos has revealed a set of 19 chaotic systems all described by simple algebraic equations. This paper presents a new piecewise-linear chaotic system emerging from the simplification of the Lorenz system combined with the elegance of Sprott systems. Unlike the majority, the new system is a non-Shilnikov chaotic system with two nonhyperbolic equilibria. It is multiplier-free, variable-boostable and exclusively based on absolute value and signum nonlinearities. The use of familiar tools such as Lyapunov exponents spectra, bifurcation diagrams, frequency power spectra as well as Poincaré map help to demonstrate its chaotic behavior. The novel system exhibits inverse period doubling bifurcations and multistability. It has only five terms, one bifurcation parameter and a total amplitude controller. These features allow a simple and low cost electronic implementation. The adaptive synchronization of the novel system is investigated and the corresponding electronic circuit is presented to confirm its feasibility.
