How is the Eclipse Foundation Specification Process (EFSP) different from Java Community Process (JCP)?

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By now most of you are aware already that Oracle has contributed Java EE specification to open source, and into Eclipse Foundation. The Java enterprise community decided to rename the Java EE specification to Jakarta EE. Part of this huge transition to open source is changing the specification process. The famous Java Community Process (JCP) is going to be replaced by Eclipse Foundation Specification Process (EFSP), that will be better suited for vendor neutrality, transparency and all other attributes associated with open source. So what exactly is different?