Cachelot is in-memory distributed caching system. It supports memcached protocol, works within fixed amount of memory. Cachelot may automatically evict cold items when all memory is used in order to store new ones. As Memcached, Cachelot supports items expiration.
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Cachelot is single-threaded, so you can run it while consuming much fewer resources and maximally utilize available memory and CPU. On a random allocation Cachelot may store twice as much items as Memcached.
And yet, single Cachelot instance is faster than Memcached while serving a certain number of connections. Never the less, you're free to scale up horizontally by running more instances.