There are N values in the array, and one of them is the smallest value. How can I find the smallest value most efficiently?
If you want to be really efficient and you have enough time to spent, use SIMD instruction.
You can compare several pairs in one instruction:
r0 := min(a0, b0)
r1 := min(a1, b1)
r2 := min(a2, b2)
r3 := min(a3, b3)
__m64 _mm_min_pu8(__m64 a , __m64 b );
Today every computer supports it. Other already have written min function for you:
http://smartdata.usbid.com/datasheets/usbid/2001/2001-q1/i_minmax.pdf
or use already ready library.