The Oracle Notification Service (ONS) daemon is an daemon started by the CRS clusterware as part of the nodeapps. There is one ons daemon started per clustered node.
The Oracle Notification Service daemon receive a subset of published clusterware events via the local evmd and racgimon clusterware daemons and forward those events to application subscribers and to the local listeners.
This in order to facilitate:
a. the FAN or Fast Application Notification feature or allowing applications to respond to database state changes.
b. the 10gR2 Load Balancing Advisory, the feature that permit load balancing accross different rac nodes dependent of the load on the different nodes. The rdbms MMON is creating an advisory for distribution of work every 30seconds and forward it via racgimon and ONS to listeners and applications.