API
An application programming interface (API) is a set of subroutine definitions, communication protocols, and tools for putting together software. In layman’s terms, it is a set of clearly defined methods of communication among various components.
API economy is the open connection of an organization’s digital resources through application programming interfaces (APIs) in a modulated way. In this context, the word “economy” refers to the careful management of available data, computing, and other assets with the term API economy can be used as a synonym for API management.
Examples of using an API are calling traffic data from google maps, or calling weather data from NOAA.
Smart Contract
A smart contract is a programmed agreement, hosted on a decentralized or 3rd party network, that is able to dynamically interact with internal network events, or external data.
Incentive Alignment
Incentive Alignment is rewarding or penalizing based on common interest of multiple parties.
Trusted Execution Environment
A trusted execution environment (TEE) is a secure section of a computer’s central processing unit. It provides confidentiality and integrity to programs run and information held within its confines. Chainlink has integrated TEE through Intel SGX implementation called Town Crier.
These are also known as Secure Enclaves, with varying implementations made by Apple, Intel, and AMD
Enclaves
Non-addressable memory pages are reserved from the system’s physical RAM and then encrypted. Enclaves are protected memory regions where an application can work on its secrets without fear of exposing them. Enclaves generally work in two parts, a trusted part and an untrusted part.