The blockchain space is filled with several exciting projects which are creating great buzz by solving major challenges. For the longest time, DeFi and NFT platforms missed end-to-end space for community members to interact. Thus, an exciting project – Ethereum Push Notification Service (EPNS) is seen as the game-changer for Decentralized Apps (DApps).
What is EPNS?
It is a protocol that supports the blockchain-based notification service with its chain agnostic and platform-independent approach. It is built on top of EIP – 712 standards in the Ethereum ecosystem. Furthermore, EPNS is known to establish and facilitate the communication between protocol and users giving them the first-hand experience of push notifications. As a result, helps to build the trust factor and accelerate collaboration.
The on-chain notification solution of the EPNS allows the streaming of all time-sensitive information to a user’s wallet. This protocol is customizable in nature and addresses the varying needs of the contributors. Thus, builds the long – term sustainable communities which are potent to reshape the future of Web3 completely.
How does EPNS work?
EPNS aims to solve the communication challenge by building the “channel–like” structure that allows DApps to communicate with users by notifying them with alerts. The EPNS platform provides a wallet service to send notifications on the user’s devices and help track the market changes in the NFT and cryptocurrency values. The messages/alerts transacted through EPNS are directly sent to the Ethereum addresses and keep both lender & liquidator informed about everything.
In the simplest term, it can be considered as the “communication layer” that empowers the end-users to enhance the visibility of the transactions and acknowledge the new offerings in the market. Moreover, it is a content-independent protocol that facilitates complete communication and gives flexibility to the users to decide what notifications wish to receive and what not. As a result, it supports long-term contributors to the Web 3 projects.
EPNS’ Governance Token
EPNS has also launched its own cryptocurrency named $PUSH which is a governance token and is listed on WazirX. The holders of this token are the primary stakes of the system and have a say in the EPNS ecosystem. Besides the governance rights, they are believed to receive rewards out of the gas fees DApps pay to EPNS. Thus, these tokens are not meant to be traded openly on the exchange, unlike other cryptocurrencies.
Decentralized Platforms that benefit from EPNS?
The protocol is apt for the complete digital ecosystem for facilitating push notifications. It includes Decentralized Exchange (DEXs), Non-Fungible Tokens (NFT), and Decentralized Finance (DeFi). For example, DeFi apps can send notifications to users when they are on the verge of liquidating. On the other hand, DEX can also send notifications when it is expected to witness a fall in the price of the token. While the NFT Marketplaces can use these notifications to inform their community about the specific items going live or when can NFTs experience a significant fall and rise in the price of NFT.
Future of EPNS in DApps in Ecosystem
By bridging the gap between DApps and their users, EPNS is all set to create a buzz in the complete ecosystem. The disruptive communication solution of the EPNS is providing an immense boost to the Crypto and NFT projects by building a much more relevant community of crypto enthusiasts and traders. Using the notification feature enables DApps members to create extended connectivity and support digital projects.