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I have a requirement of caching data (JSON) for each unique searches to avoid the call for same searches from a paid third party service within 24 hours.

When I looked for the solution, I found that MemoryCache will solve the requirement. The articles which made me to come to this conclusion are below

1) https://code.msdn.microsoft.com/Caching-In-Web-API-cb40be30

2) Caching Data in Web API

Now I have couple of doubts in this approach.

1) Would MemoryCache serve the purpose of caching large JSON data for each unique searches. I mean What will be the Cache Limit for MemoryCache?

2) Would It cause any performance issues with my application?

3) Any other challenges with this approach?

4) Are there any better approaches?

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