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FIFO First In, First Out--This is another way to speak of a pipe or ring buffer. On one side, there is a generator that pushes data in and on the other side you have another program that reads the data sent by the generator. The data comes out in the same order it was pushed in. Usually the data are bytes, but it should be a short, long or even a complete event or object.
RAM Random Access Memory. Everyone with a computer uses a lot of RAM to run their processes. This is true of any electronic device with some dynamic capabilities (like your cell phone, pocket calculator, watch with calculator, etc.)