Improving the Performance of Proof of Work-Based Bitcoin Mining Using CUDA

Authors : Seid Mehammed; Dagmawi Lemma

Volume/Issue : Volume 6 - 2021, Issue 12 - December

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- The most dominant block chain consensus algorithm is Proof of Work (POW). It is an algorithm, which scales up the bitcoin transaction well globally, by competition a cryptographic hash function. This process is named mining. POW-based bitcoin mining is a well-known problem of computational and memory-intensive algorithms. On the other hand, the high-threaded CUDA architecture has become with enhanced performance for a various range of computation and memory-intensive applications. Thus, feature of massive number of software threads with low overhead context switch provides high computational throughput and hides the memory access latencies. However, it is not effective enough for all applications because of two challenges that directly affect performance such as scheduling new threads and the overhead to startfresh kernels on the CUDA. Existing work tried to model performance of POW-based mining from various aspects. However, no model considers all of these factors came together at the same time. The main contribution of the articlecombination of the POW-based bitcoinmining algorithm with a focus on the higher-level analysis of algorithm performance and lower-level details about runtime configuration (thread per block) and scheduling on CUDA. The results indicate that the model can be effectively use on various optimization techniques. It’s able to get a performance, which is almost 4 times when compared to baseline serial algorithm of POW-based mining implementation.

Keywords : POW, CUDA, Bitcoin-Mining, Blockchain, Thread, Thread-block.


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30 - June - 2023

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