First Principles Closure of the Cosmic Ledger Hypothesis

This paper presents an upgraded core formulation of the Cosmic Ledger Hypothesis (CLH) and establishes the strongest current first-principles closure of its central theoretical structure. It sharpens the original CLH framework by formalising the refined ledger hierarchy, defining inscription as a rewrite-protected quantum commit, and constructing the full micro-to-macro bridge from local inscription physics to the emergent balancing and retarded-response sectors. Within this framework, utilisation remains the unifying state variable, with inflationary safeguarding, late-time tracking, and future dilution emerging as different regimes of the same bounded dynamics. The result is a stronger theory-level endpoint than the original CLH paper: the commit structure, macro-bridge, and retained effective hierarchy are now fixed, while the remaining open questions are confined to a narrow residual frontier. This upload serves as the Phase II core-theory paper for CLH and provides the first-principles foundation for subsequent phenomenology and cosmological applications.