diff --git a/Cargo.lock b/Cargo.lock
index 0512f5eb..c60de6f9 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -1145,7 +1145,6 @@ dependencies = [
  "serde",
  "serde_columnar",
  "serde_json",
- "string_cache",
  "thiserror",
  "wasm-bindgen",
 ]
diff --git a/crates/examples/examples/large_map.rs b/crates/examples/examples/large_map.rs
new file mode 100644
index 00000000..4b003ee0
--- /dev/null
+++ b/crates/examples/examples/large_map.rs
@@ -0,0 +1,32 @@
+use std::time::Instant;
+
+use dev_utils::get_mem_usage;
+use loro::LoroDoc;
+
+fn main() {
+    let mut init = Instant::now();
+    {
+        let start = Instant::now();
+        let doc = LoroDoc::new();
+        let map = doc.get_map("map");
+        for i in 0..1000 {
+            for j in 0..1000 {
+                let key = format!("0000{}:0000{}", i, j);
+                map.insert(&key, i + j).unwrap();
+            }
+        }
+
+        println!("LargeMap Init Time {:?}", start.elapsed());
+        let start = Instant::now();
+        let bytes = doc.export(loro::ExportMode::Snapshot).unwrap();
+        println!("LargeMap Export Time {:?}", start.elapsed());
+        let start = Instant::now();
+        let new_doc = LoroDoc::new();
+        new_doc.import(&bytes).unwrap();
+        println!("LargeMap Import Time {:?}", start.elapsed());
+        println!("Mem {:?}", get_mem_usage());
+        init = Instant::now();
+    }
+    println!("Drop Time {:?}", init.elapsed());
+    println!("Mem {:?}", get_mem_usage())
+}
diff --git a/crates/examples/examples/sheet.rs b/crates/examples/examples/sheet.rs
index b2f6e3dd..b1dd20bf 100644
--- a/crates/examples/examples/sheet.rs
+++ b/crates/examples/examples/sheet.rs
@@ -1,5 +1,6 @@
-use dev_utils::get_mem_usage;
+use dev_utils::{get_mem_usage, ByteSize};
 use examples::sheet::init_large_sheet;
+use loro::ID;
 
 pub fn main() {
     dev_utils::setup_test_log();
@@ -10,53 +11,53 @@ pub fn main() {
     println!("Allocated bytes for 10M cells spreadsheet: {}", allocated);
     println!("Has history cache: {}", doc.has_history_cache());
     examples::utils::bench_fast_snapshot(&doc);
-    // doc.checkout(&ID::new(doc.peer_id(), 100).into()).unwrap();
-    // println!(
-    //     "Has history cache after checkout: {}",
-    //     doc.has_history_cache()
-    // );
+    doc.checkout(&ID::new(doc.peer_id(), 100).into()).unwrap();
+    println!(
+        "Has history cache after checkout: {}",
+        doc.has_history_cache()
+    );
 
-    // doc.checkout_to_latest();
-    // let after_checkout = get_mem_usage();
-    // println!("Allocated bytes after checkout: {}", after_checkout);
+    doc.checkout_to_latest();
+    let after_checkout = get_mem_usage();
+    println!("Allocated bytes after checkout: {}", after_checkout);
 
-    // doc.free_diff_calculator();
-    // let after_free_diff_calculator = get_mem_usage();
-    // println!(
-    //     "Allocated bytes after freeing diff calculator: {}",
-    //     after_free_diff_calculator
-    // );
+    doc.free_diff_calculator();
+    let after_free_diff_calculator = get_mem_usage();
+    println!(
+        "Allocated bytes after freeing diff calculator: {}",
+        after_free_diff_calculator
+    );
 
-    // println!(
-    //     "Diff calculator size: {}",
-    //     after_checkout - after_free_diff_calculator
-    // );
+    println!(
+        "Diff calculator size: {}",
+        after_checkout - after_free_diff_calculator
+    );
 
-    // doc.free_history_cache();
-    // let after_free_history_cache = get_mem_usage();
-    // println!(
-    //     "Allocated bytes after free history cache: {}",
-    //     after_free_history_cache
-    // );
+    doc.free_history_cache();
+    let after_free_history_cache = get_mem_usage();
+    println!(
+        "Allocated bytes after free history cache: {}",
+        after_free_history_cache
+    );
 
-    // println!(
-    //     "History cache size: {}",
-    //     after_free_diff_calculator - after_free_history_cache
-    // );
+    println!(
+        "History cache size: {}",
+        after_free_diff_calculator - after_free_history_cache
+    );
 
-    // doc.compact_change_store();
-    // let after_compact_change_store = get_mem_usage();
-    // println!(
-    //     "Allocated bytes after compact change store: {}",
-    //     after_compact_change_store
-    // );
-    // println!(
-    //     "Shrink change store size: {}",
-    //     after_free_history_cache - after_compact_change_store
-    // );
+    doc.compact_change_store();
+    let after_compact_change_store = get_mem_usage();
+    println!(
+        "Allocated bytes after compact change store: {}",
+        after_compact_change_store
+    );
+    println!(
+        "Shrink change store size: {}",
+        after_free_history_cache - after_compact_change_store
+    );
 
-    // println!(
-    //     "ChangeStore size: {}",
-    //     ByteSize(doc.with_oplog(|log| log.change_store_kv_size()))
-    // );
+    println!(
+        "ChangeStore size: {}",
+        ByteSize(doc.with_oplog(|log| log.change_store_kv_size()))
+    );
 }
diff --git a/crates/loro-common/Cargo.toml b/crates/loro-common/Cargo.toml
index ca09590d..0ccc4f80 100644
--- a/crates/loro-common/Cargo.toml
+++ b/crates/loro-common/Cargo.toml
@@ -21,7 +21,6 @@ thiserror = "1.0.43"
 wasm-bindgen = { version = "=0.2.92", optional = true }
 fxhash = "0.2.1"
 enum-as-inner = "0.6.0"
-string_cache = "0.8"
 arbitrary = { version = "1.3.0", features = ["derive"] }
 js-sys = { version = "0.3.60", optional = true }
 serde_columnar = { workspace = true }
diff --git a/crates/loro-common/src/internal_string.rs b/crates/loro-common/src/internal_string.rs
index 0567389f..0d6037ed 100644
--- a/crates/loro-common/src/internal_string.rs
+++ b/crates/loro-common/src/internal_string.rs
@@ -1,40 +1,218 @@
-use std::{fmt::Display, ops::Deref};
-
+use fxhash::FxHashSet;
 use serde::{Deserialize, Serialize};
+use std::borrow::Borrow;
+use std::slice;
+use std::sync::LazyLock;
+use std::{
+    fmt::Display,
+    num::NonZeroU64,
+    ops::Deref,
+    sync::{atomic::AtomicUsize, Arc, Mutex},
+};
+
+const DYNAMIC_TAG: u8 = 0b_00;
+const INLINE_TAG: u8 = 0b_01;
+const TAG_MASK: u64 = 0b_11;
+const LEN_OFFSET: u64 = 4;
+const LEN_MASK: u64 = 0xF0;
 
 #[repr(transparent)]
-#[derive(Clone, Debug, Default, Serialize, Deserialize, Hash, PartialEq, Eq, PartialOrd, Ord)]
-pub struct InternalString(string_cache::DefaultAtom);
-impl InternalString {
-    pub fn as_str(&self) -> &str {
-        &self.0
+#[derive(Clone)]
+pub struct InternalString {
+    unsafe_data: UnsafeData,
+}
+
+union UnsafeData {
+    inline: NonZeroU64,
+    dynamic: *const Box<str>,
+}
+
+unsafe impl Sync for UnsafeData {}
+unsafe impl Send for UnsafeData {}
+
+impl UnsafeData {
+    #[inline(always)]
+    fn is_inline(&self) -> bool {
+        unsafe { (self.inline.get() & TAG_MASK) as u8 == INLINE_TAG }
     }
 }
 
-impl<T: Into<string_cache::DefaultAtom>> From<T> for InternalString {
+impl Clone for UnsafeData {
+    fn clone(&self) -> Self {
+        if self.is_inline() {
+            Self {
+                inline: unsafe { self.inline },
+            }
+        } else {
+            let arc = unsafe { Arc::from_raw(self.dynamic) };
+            let clone = arc.clone();
+            let new = Arc::into_raw(clone);
+            std::mem::forget(arc);
+            Self { dynamic: new }
+        }
+    }
+}
+
+impl std::fmt::Debug for InternalString {
+    fn fmt(&self, f: &mut std::fmt::Formatter<'_>) -> std::fmt::Result {
+        f.write_str("InternalString(")?;
+        std::fmt::Debug::fmt(self.as_str(), f)?;
+        f.write_str(")")
+    }
+}
+
+impl std::hash::Hash for InternalString {
+    fn hash<H: std::hash::Hasher>(&self, state: &mut H) {
+        self.as_str().hash(state);
+    }
+}
+
+impl PartialEq for InternalString {
+    fn eq(&self, other: &Self) -> bool {
+        self.as_str() == other.as_str()
+    }
+}
+
+impl Eq for InternalString {}
+
+impl PartialOrd for InternalString {
+    fn partial_cmp(&self, other: &Self) -> Option<std::cmp::Ordering> {
+        Some(self.cmp(other))
+    }
+}
+
+impl Ord for InternalString {
+    fn cmp(&self, other: &Self) -> std::cmp::Ordering {
+        self.as_str().cmp(other.as_str())
+    }
+}
+
+impl Serialize for InternalString {
+    fn serialize<S>(&self, serializer: S) -> Result<S::Ok, S::Error>
+    where
+        S: serde::Serializer,
+    {
+        serializer.serialize_str(self.as_str())
+    }
+}
+
+impl<'de> Deserialize<'de> for InternalString {
+    fn deserialize<D>(deserializer: D) -> Result<Self, D::Error>
+    where
+        D: serde::Deserializer<'de>,
+    {
+        let s = String::deserialize(deserializer)?;
+        Ok(InternalString::from(s.as_str()))
+    }
+}
+
+impl Default for InternalString {
+    fn default() -> Self {
+        let v: u64 = INLINE_TAG as u64;
+        Self {
+            // SAFETY: INLINE_TAG is non-zero
+            unsafe_data: UnsafeData {
+                inline: unsafe { NonZeroU64::new_unchecked(v) },
+            },
+        }
+    }
+}
+
+impl InternalString {
+    pub fn as_str(&self) -> &str {
+        unsafe {
+            match (self.unsafe_data.inline.get() & TAG_MASK) as u8 {
+                INLINE_TAG => {
+                    let len = (self.unsafe_data.inline.get() & LEN_MASK) >> LEN_OFFSET;
+                    let src = inline_atom_slice(&self.unsafe_data.inline);
+                    // SAFETY: the chosen range is guaranteed to be valid str
+                    std::str::from_utf8_unchecked(&src[..(len as usize)])
+                }
+                DYNAMIC_TAG => {
+                    let ptr = self.unsafe_data.dynamic;
+                    // SAFETY: ptr is valid
+                    (*ptr).deref()
+                }
+                _ => unreachable!(),
+            }
+        }
+    }
+}
+
+impl AsRef<str> for InternalString {
+    fn as_ref(&self) -> &str {
+        self.as_str()
+    }
+}
+
+impl From<&str> for InternalString {
     #[inline(always)]
-    fn from(value: T) -> Self {
-        Self(value.into())
+    fn from(s: &str) -> Self {
+        if s.len() <= 7 {
+            let mut v: u64 = (INLINE_TAG as u64) | ((s.len() as u64) << LEN_OFFSET);
+            let arr = inline_atom_slice_mut(&mut v);
+            arr[..s.len()].copy_from_slice(s.as_bytes());
+            Self {
+                unsafe_data: UnsafeData {
+                    // SAFETY: The tag is 1
+                    inline: unsafe { NonZeroU64::new_unchecked(v) },
+                },
+            }
+        } else {
+            let ans: Arc<Box<str>> = get_or_init_internalized_string(s);
+            let raw = Arc::into_raw(ans);
+            // SAFETY: Pointer is non-zero
+            Self {
+                unsafe_data: UnsafeData { dynamic: raw },
+            }
+        }
+    }
+}
+
+#[inline(always)]
+fn inline_atom_slice(x: &NonZeroU64) -> &[u8] {
+    unsafe {
+        let x: *const NonZeroU64 = x;
+        let mut data = x as *const u8;
+        // All except the lowest byte, which is first in little-endian, last in big-endian.
+        if cfg!(target_endian = "little") {
+            data = data.offset(1);
+        }
+        let len = 7;
+        slice::from_raw_parts(data, len)
+    }
+}
+
+#[inline(always)]
+fn inline_atom_slice_mut(x: &mut u64) -> &mut [u8] {
+    unsafe {
+        let x: *mut u64 = x;
+        let mut data = x as *mut u8;
+        // All except the lowest byte, which is first in little-endian, last in big-endian.
+        if cfg!(target_endian = "little") {
+            data = data.offset(1);
+        }
+        let len = 7;
+        slice::from_raw_parts_mut(data, len)
+    }
+}
+
+impl From<String> for InternalString {
+    fn from(s: String) -> Self {
+        Self::from(s.as_str())
     }
 }
 
 impl From<&InternalString> for String {
     #[inline(always)]
     fn from(value: &InternalString) -> Self {
-        value.0.to_string()
-    }
-}
-
-impl From<&InternalString> for InternalString {
-    #[inline(always)]
-    fn from(value: &InternalString) -> Self {
-        value.clone()
+        value.as_str().to_string()
     }
 }
 
 impl Display for InternalString {
     fn fmt(&self, f: &mut std::fmt::Formatter<'_>) -> std::fmt::Result {
-        self.0.fmt(f)
+        self.as_str().fmt(f)
     }
 }
 
@@ -42,6 +220,109 @@ impl Deref for InternalString {
     type Target = str;
 
     fn deref(&self) -> &Self::Target {
-        self.0.as_ref()
+        self.as_str()
+    }
+}
+
+#[derive(Hash, PartialEq, Eq)]
+struct ArcWrapper(Arc<Box<str>>);
+
+impl Borrow<str> for ArcWrapper {
+    fn borrow(&self) -> &str {
+        &self.0
+    }
+}
+
+static STRING_SET: LazyLock<Mutex<FxHashSet<ArcWrapper>>> =
+    LazyLock::new(|| Mutex::new(FxHashSet::default()));
+
+fn get_or_init_internalized_string(s: &str) -> Arc<Box<str>> {
+    static MAX_MET_CACHE_SIZE: AtomicUsize = AtomicUsize::new(1 << 16);
+
+    let mut set = STRING_SET.lock().unwrap();
+    if let Some(v) = set.get(s) {
+        v.0.clone()
+    } else {
+        let ans: Arc<Box<str>> = Arc::new(Box::from(s));
+        set.insert(ArcWrapper(ans.clone()));
+        let max = MAX_MET_CACHE_SIZE.load(std::sync::atomic::Ordering::Relaxed);
+        if set.capacity() >= max {
+            let old = set.len();
+            set.retain(|s| Arc::strong_count(&s.0) > 1);
+            let new = set.len();
+            if old - new > new / 2 {
+                set.shrink_to_fit();
+            }
+
+            MAX_MET_CACHE_SIZE.store(max * 2, std::sync::atomic::Ordering::Relaxed);
+        }
+
+        ans
+    }
+}
+
+fn drop_cache(s: Arc<Box<str>>) {
+    let mut set = STRING_SET.lock().unwrap();
+    set.remove(&ArcWrapper(s));
+    if set.len() < set.capacity() / 2 && set.capacity() > 128 {
+        set.shrink_to_fit();
+    }
+}
+
+impl Drop for InternalString {
+    fn drop(&mut self) {
+        unsafe {
+            if (self.unsafe_data.inline.get() & TAG_MASK) as u8 == DYNAMIC_TAG {
+                let ptr = self.unsafe_data.dynamic;
+                // SAFETY: ptr is a valid Arc
+                let arc: Arc<Box<str>> = Arc::from_raw(ptr);
+                if Arc::strong_count(&arc) == 2 {
+                    drop_cache(arc);
+                } else {
+                    drop(arc)
+                }
+            }
+        }
+    }
+}
+
+#[cfg(test)]
+mod tests {
+    use super::*;
+
+    #[test]
+    fn test_string_cache() {
+        let s1 = InternalString::from("hello");
+        let s3 = InternalString::from("world");
+
+        // Content should match
+        assert_eq!("hello", s1.as_str());
+        assert_eq!(s3.as_str(), "world");
+    }
+
+    #[test]
+    fn test_long_string_cache() {
+        let long_str1 = "Lorem ipsum dolor sit amet, consectetur adipiscing elit. Sed do eiusmod tempor incididunt ut labore et dolore magna aliqua.";
+        let long_str2 = "A very long string that contains lots of repeated characters: aaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa";
+
+        let s1 = InternalString::from(long_str1);
+        let s2 = InternalString::from(long_str1);
+        let s3 = InternalString::from(long_str2);
+
+        // Same long strings should be equal
+        assert_eq!(s1, s2);
+
+        // Different long strings should be different
+        assert_ne!(s1, s3);
+
+        // Content should match exactly
+        assert_eq!(s1.as_str(), long_str1);
+        assert_eq!(s1.as_str(), long_str1);
+        assert_eq!(s2.as_str(), long_str1);
+        assert_eq!(s3.as_str(), long_str2);
+
+        // Internal pointers should be same for equal strings
+        assert!(std::ptr::eq(s1.as_str().as_ptr(), s2.as_str().as_ptr()));
+        assert!(!std::ptr::eq(s1.as_str().as_ptr(), s3.as_str().as_ptr()));
     }
 }
diff --git a/crates/loro/src/lib.rs b/crates/loro/src/lib.rs
index 7d798b3d..40e494c8 100644
--- a/crates/loro/src/lib.rs
+++ b/crates/loro/src/lib.rs
@@ -3,7 +3,7 @@
 #![warn(missing_debug_implementations)]
 use event::{DiffEvent, Subscriber};
 use fxhash::FxHashSet;
-use loro_common::InternalString;
+pub use loro_common::InternalString;
 pub use loro_internal::cursor::CannotFindRelativePosition;
 use loro_internal::cursor::Cursor;
 use loro_internal::cursor::PosQueryResult;