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Memcached allows all servers to access a single virtual pool of memory. This ensures that a given data item is consistently stored and retrieved from the same location across the entire web cluster, simplifying cache management.
In a distributed environment, Memcached enables a significantly larger usable cache size by pooling memory from all nodes. This contrasts with independent node caching, where the total cache size is limited to the sum of individual node caches, which can be wasteful.
Memcached is flexible in its deployment. While it can utilize memory from web servers, many users opt for dedicated machines specifically configured to function as Memcached servers.
Memcached is an in-memory key-value store designed for small chunks of arbitrary data. This includes strings, objects, and results from database calls, API calls, or page rendering.
Memcached was originally developed by Brad Fitzpatrick for LiveJournal in 2003. Its initial purpose was to speed up dynamic web applications by alleviating database load.
Source: memcached.org