Is a commonly used encryption protocol that manages transmission security on the internet

The answer is Secure Sockets Layer.  

Explanation:

SSL (Secure Sockets Layer) is the standard security innovation for building up a scrambled connection between a web server and a program. This connection guarantees that all information go between the web server and programs stay private and basic. Secure Sockets Layer (SSL) is a standard security innovation for setting up an encoded interface between a server and a customer—ordinarily a web server (site) and a program, or a mail server and a mail customer (e.g., Outlook). Secure Sockets Layer (SSL) is a PC organizing convention for anchoring associations between system application customers

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