Too Long; Didn't Read
OpenAPI is a specification for the best known and respected standard for API design. The core concept is to have the API definition in a unique, centralised, versioned file. It guarantees consistency between the design and all implementations, be it source code or a demo client. The definition is ruled by a standard, which is called OpenAPI Specification, which was donated to the Linux Foundation under the OpenAPI initiative. Even startups can take advantage of this - starting from the ground up using Open API has a low cost, and since they will hopefully scale someday.