In most cases, your file system will be faster. For instance. when you need a cache for your "compiled templates", the file system will be faster.
And caching the file system (especially on Linux) will ensure that your cached templates, which are read frequently, are available in a very short time. The kernel stores them in a cache in memory, and reading will be fast as hell.
memcached is a distributed key / value store. It has various use cases .
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