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Memoized method calls are thread safe and can safely be used in concurrent systems. Declaring memoization on a function is not thread safe and should only be done during application initialization.
Memoization is a technique for optimizing functions that are time-consuming and/or involve expensive calculations. Every time a memoized function is called the result is caches with reference to the given parameters. Subsequent calls to the function that use the same parameters will return the cached result. As a result the response time for frequently called functions is vastly incresed (after the first call with any given set of) arguments, at the cost of increased memory usage (the cache).