Electronic Money Systems Research And Bitcoin Mining Optimization

With the development of the Internet,electronic money is becoming the first choicewhen people consume in recent years. In order to ensure the security of transactions,traditional electronic money usually has a trusted third party node, such as central bank,so that all transactions are monitored by the node, and the central bank is responsible forcasting and issuing all currencies. The disadvantage is that all the powers of electronicmoney are concentrated in the central bank, the bank thus can obtain transactioninformation, limit transaction and charge transaction fees.Bitcoin,a new electronic money, overcomes the disadvantage. Bitcoin uses acryptographic algorithm and peer network technology.And as an open-source electronicmoney,Bitcoin regards freedom,security and publicity as benchmarks.Bitcoin’sphilosophy is to build a secure and free payment network throughdecentralization.Bitcoin meets the demands of decentralization, estimating total amountof currency in circulation, and curbing inflation.Through using electronic money in theP2P network,the nodes may estimate the reasonable valuations of resources in the systemfor the convenience of resource transactions between the nodes.Meanwhile,in order to getmore money,the node must pay a certain amount of resource or labor.As more and morepeople join the ranks of mining,the allocation of resources are handed over to themarket,and all transactions are regulated by market mechanism.But the more thegenerative mechanism of Bitcoin itself leads people to participate,the more inefficientBitcoin outputs. Most output of Bitcoin mining is concentrated in the hands of severalprofessional mining organizations,the individual participants only get a very low rate of return.In order to solve the problems of unbalanced mining output and low return rates, tobuild a Bitcoin mining mechanism with high efficiency and high return rates becomes themain issue and challenge that lies ahead.This article takes the issue above as a starting point. Firstly,the article studies thebasic principles of Bitcoin,and analyzes the problems and defects of Bitcoin as a fullydistributed form of electronic money.And then, according to the computingcharacteristics of multicore chips CPU-multi-threading and high-intensive,the articleproposes a mining mechanism based on multicore chips CPU to improve miningefficiency through the effective integration of distributed Bitcoin features and multicorechips CPU’s computing capability.Finally,the article conducts algorithm implementationand performance testing of the multicore chips CPU mining.