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So what we need is a DB that stores itself completely in memory and only writes to disk every Nminutes?

No, it can write continually, but in a sequential fashion.

I just read up on memcached, now I get it. Very nice ;)

I wonder what would happen if you use ZFS on top of a flash memory drive and replace/add a SQL layer next to the ZPL layer. In theory, you'd get transactions and checksums for free and possibly your sequential writes as well.

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