EPNS Token Quick Summary | Welcome to World of Decentralized Notifications?
EPNS has been a buzzword for quite some time now in Crypto these days and people have been curious to learn more about the project. From the name itself, it’s imminent that the project has something to do with ‘notifications’ but more on that later. First, let’s talk about the fundamentals of how things work now and why EPNS is another upcoming Flagship project from India.
What is EPNS (Ethereum Push Notification Service)
It’s a decentralized notification protocol that enables users (Wallet Addresses) to receive notifications and obtain token incentives through active participation.
With an ever-increasing exponential growth in the blockchain space, more dApps, Smart Contracts, or services are bound to come up and more and more users will start using these services. Despite all of this growth, there’s a lack of a genuine and organic communication medium with the user of these services and oftentimes, the gap is filled by alternative services like Twitter or telegram, or email defeating the purpose of web 3.0.
Now you might have a question, what’s Web 3.0?
Let me explain. It’s kind of a new internet that not only interprets what you enter but understands everything that you convey via text, voice, or other media forms. Where every form of content that you will consume is curated for you than ever before. As Web 3.0 networks operate through decentralized protocols (founding blocks of the blockchain and cryptocurrency technology) there’s a strong convergence and symbiotic relationship between these three technologies. These will be interoperable, seamlessly integrated, and automated via Smart Contracts and can be used to power anything as small as Notifications.
Till now, there doesn’t exist any notification mechanism in Web 3.0 which can notify Wallet Addresses about important events or actions, etc. This mechanism has led to pain points and side effects.
EPNS uses the following flow to ensure that storage, broadcasting, and sending notifications in a platform-agnostic and decentralized way.
Basically, it’s a decentralized notification protocol that abstracts the data layer to enable sending notifications to both decentralized and centralized carriers.
- Sending notifications carries a micro fee, charged in $ETH (or $DAI), the fee is controlled by the governance model.
- The notification needs to be carried from decentralized to centralized carriers and finally to a centralized platform which requires infrastructure and a business model to maintain it and leave the business model to the infra service building on top of the protocol.
- EPNS team is running its own infrastructure to ensure early adoption and to carry notifications to centralized carriers (iOS, Android, Chrome, Firefox with more to come in the future), more about this and the range of product suite is explained in the EPNS Products section.
The protocol charges micro fees on notifications that are sent out. The fees from this go to the fee pool of the protocol.
EPNS team aims to bring up the following product offerings in the future as mentioned in their whitepaper.
Serves the purpose of delivering notifications from decentralized protocol to centralized EPNS Infra to centralized platforms (iOS and Android).
Enables receiving notifications from web browsers and also enables delivery of notifications from protocol to decentralized carriers.
Enables carrying notifications from decentralized protocol to centralized solutions (iOS, Android, Web, etc). Also enables third-party dApps, services and protocols to start experiencing the notification impact as notifications are delivered following the entire protocol / product lifecycle.
These are channels created and run by us for the benefit of the community and for users to come and see why push notifications transformed the traditional world. Few examples of showrunners which we will be running are:
- Wallet crypto movement tracker
- ENS domain expiry
- Compound Liquidation alert
- EthGas abnormal price alerter
- Crypto price tracker
Considerably reduces the integration time required for third party dApps, servers.
We see these products to enable instant value to add to the protocol and help in increasing awareness and eventually drive the adoption of the protocol.
That was a quick summary for this article. Hat’s off to the team for making such an amazing project. Make sure to subscribe to our newsletter for more upcoming blogs 🙂