Amazon ElastiCache is a fully managed caching service. ElastiCache is protocol-compliant with Memcached, an open source, high-performance, distributed memory object caching system for speeding up dynamic web applications by alleviating database load.
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According to the Amazon website, ElastiCache makes it easy to deploy, operate, and scale an in-memory cache in the cloud. The service improves the performance of web applications by enabling information retrieval from a fast, managed, in-memory caching system, instead of relying entirely on slower disk-based databases.