Prabhi, the notifications inform you when someone has clicked "like" on something you added to the site, if a pic has uploaded successfully, if you received an acorn for uploading a pic, if a member sends an acorn to you, and if someone has tagged your name in a discussion. You are not required to look at them if you are not interested in these things.
I always check them to see if I have been tagged in a discussion I was not already in, and so I will know if acorns have been sent to me so I can say thank you. I would feel rude if I did not send a quick note to say thank you to someone who sent an acorn.