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Is it possible to update the storage of pallets through runtime api? Is yes. Do we have any resources for this same?

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No it is not possible. Conceptually a Runtime API runs outside of consensus. They can be called by anyone on a RPC node and are permissionless.
It would therefore not make any sense to change the on-chain state since that is guarded by the consensus. If someone still wants to do that, then the node would just not be able to import blocks anymore since the state root hash differs.

Imagine I just change the balance of an account through a Runtime API on my node, why would anyone trust that change?

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  • Yeah got it!.Thank you so much. I'm working on substrate pow chain and if i want to change some logic of miners selection, what all files I need to look into(any rough idea)? Jan 29 at 17:04

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