Taxonomy Simple talk

Taxonomy in SharePoint 2010 is a new topic to organize and index the contents based on certain hierarchical group based. Put it in simple word,How the supermarket organizing the products categorically to easy access by the customers. By categorize the products by apartment wise,floor wise and rack wise. In SharePoint provide this logical approach by using the "Managed Metadata Services". SP object model gives the hierarchical view of the terms such as Session,Store,Group,TermSet and Terms. On site capacity plan,Let assume we have a site for Tax Managing department for a corporate.Every time the users from the tax department uploads the document for collaborate and process for taxation,they needed a reliable mechanism to manage them in organized manner. Suppose they wanted to search document,they can easily do it by supplying the keywords like "Sales tax 2011".Search will quickly returns the document. Even though there were types of law related document stored in document library,It simply returns the relevant document. So the term or keyword "Sales tax 2011" will be stored as Term in Managed Metadata service.We consume this from our site by placing the new column type "Managed Metadata". Like taxonomy we have another fancy word folksonomy.This is nothing but user generated keywords when they uploading the document or record to be identified quickly.Example "Tag clouds". Lastly,Taxonomy is nothing but "Classifying the information[contents] through hierarchical based approach".

The default term store cannot be identified

I was trying to activate the Taxonomy on my site which created from the blank site template.When I connecting and add some properties for "Managed Meta data service" from Central application I have got this error.Initially I have no clue.I googled its WCF hotfix for service application.

when creating the "Enterprise Keyword" column,my term store was not able to find the default term store.
"The default term store cannot be identified"
After tried some attempts to create the same column below error was thrown.
Unrecognized attribute 'allowInSecureTransport'

You can download the hotfix from the below link

http://connect.microsoft.com/VisualStudio/Downloads/DownloadDetails.aspx?DownloadID=23806