📽️Abstract

The Bitcoin network, with its pioneering status in the cryptocurrency domain, confronts notable scalability challenges that hinder its capacity for efficient transaction processing. Currently, it manages about three to seven transactions per second, a stark contrast to conventional payment systems like Visa, which processes over 24,000 transactions per second​​. These limitations stem from Bitcoin's foundational design, which prioritizes security and decentralization but at the expense of transaction throughput and costs, constrained by a 1MB block size and a 10-minute block generation time​​.

Efforts to enhance Bitcoin's scalability have led to proposals like shifting to Proof of Stake to alleviate computational demands and expedite transactions. Yet, such solutions risk centralizing influence among larger stakeholders, diverging from Bitcoin's decentralized principles​​. Another strategy, shard chains, proposes distributing transaction loads across the blockchain's segments to boost processing speed, though this could imperil security​​.

To address these limitations, the Bitcoin community has explored various solutions. One proposed method is transitioning from Proof of Work to Proof of Stake to reduce the computational workload and increase transaction processing speed. However, this approach could potentially centralize control among larger stakeholders, deviating from Bitcoin's decentralized ethos​​. Another concept involves shard chains, which would distribute transaction processing across smaller, manageable parts of the blockchain, although this could compromise security​​.

In this context, RUNodE represents an evolution towards a more scalable, efficient, and user-friendly blockchain ecosystem.