Algorithms for integer factorization and discrete logarithm invented by John Pollard (1975). It is often used in cryptanalysis because it only requires a small amount of space and remains polynomial in time.
If the pseudorandom number $x=g(x)$ occurring in the Pollard-$\rho$ algorithm were an actual random number, it would follow that success would be achieved half the time, by the Birthday paradox in $O(n^{1/2})O({\sqrt p})\leq O(n^{1/4})$ iterations. It is believed that the same analysis applies as well to the actual rho algorithm, but this is a heuristic claim, and rigorous analysis of the algorithm remains open.