What is the significance of server-side caching in backend development?
Server-side caching plays a crucial role in backend development as it improves the performance and scalability of web applications. It involves storing frequently accessed data in a cache, reducing the need to retrieve data from the database or perform expensive computations. This results in faster response times, reduced server load, and improved user experience. By caching data, backend developers can optimize the performance of their applications, increase server efficiency, and handle higher user loads. Additionally, server-side caching improves the overall scalability and reliability of backend systems by minimizing the impact of spikes in user traffic.