The Millicent is also a secure protocol for carrying out inexpensive electronic commerce and trading over the Internet. As thename indicates, this protocol was designed to handle purchases and other transactions costing less than a cent.
Millicent Protocol is based on decentralized validation of electronic cash at the vendor's server and that too without incurring any additional processing for encryption or communication delays or costs etc. The greatest application has been from the brokers for taking care of operations during scrip fluctuations. This helps the brokers to check frauds including forgery and double spending. Most notable point is that this protocol is vendor specific.
Millicent Protocol is based on decentralized validation of electronic cash at the vendor's server and that too without incurring any additional processing for encryption or communication delays or costs etc. The greatest application has been from the brokers for taking care of operations during scrip fluctuations. This helps the brokers to check frauds including forgery and double spending. Most notable point is that this protocol is vendor specific.
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