A web3 enabled notification service has its value deeply rooted in the fact that onchain activities cannot be tracked easily by users. Currently, it requires users to either run their own scripts or to periodically pull information manually. A service like Cronos ID will be increasingly crucial as web3 gains adoption and popularity - the large majority of users will likely be less tech-savvy and more reliant on abstracted technologies like the notification service.
Cronos ID Notification Service will be a sub protocol of Cronos ID that enables users' wallet addresses to receive notifications about onchain events without the need to manually check the relevant DApps.
These notifications may include:
Notifications of governance votes on DAOs / Protocols
Warnings on liquidation events on users’ borrowings
Upcoming expiry of registered domains
New bids on an NFT listed on a platform or marketplace
As DeFi continues to grow, the complexity of managing a wide range of DApps will become more evident. A notification service effectively addresses this by keeping users in sync with onchain activities, reducing the time lag and complexity of handling multiple DApps.