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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.
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.