The protocol used for transferring files over the Internet is called File Transfer Protocol (FTP). FTP facilitates the transfer of files between a client and a server, allowing for operations like upload, download, and file management. It operates over the Internet using a simple request-response mechanism and can be secured with extensions like FTPS or SFTP. FTP servers are commonly used for website management, sharing large files, and backing up data. By employing FTP, users can quickly exchange data in a reliable manner.