Article Summary, Automatically Generated By AI
Summary of EML Protocol
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Platform:
End-to-end payment platform -
Blockchain:
Permissioned private blockchain (Hyperledger Fabric) -
Features:
- Direct connection between users and merchants
- Blockchain-based smart contracts and coin circulation structures
- Simplified consensus algorithm
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Benefits:
- Fast payment platform
- Cost-effective
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Service Provider:
Membership Services Provider (MSP) -
M
About the EML Protocol: Empowering a New Era of Decentralized Applications
The EML Protocol constitutes an end-to-end payment platform that leverages the permissioned private blockchain framework of Hyperledger Fabric, thereby restricting access to authorized users only. This platform establishes a direct connection between users and merchants (platforms), facilitating services through the implementation of blockchain-based smart contracts and coin circulation structures. By streamlining the consensus algorithm, the platform provides a fast and cost-effective payment solution. Additionally, a dedicated service provider, known as the Membership Services Provider (MSP), oversees approvals and participates in transaction processing within the Fabric framework.