Difference with Entity Cache

Could you explain what is the difference between this module and this https://www.drupal.org/project/entitycache ?

I don't have memcache but I do have Redis (although is not configured by me but automatically done by Pantheon).

Entity/display caching would be important for me because:

• I have heavy nodes displayed with Panels (node/%node/view, with individual fields placed directly in the panel or in minipanels - cause I share the same page structure across many content types and I couldn't clone my DS Displays :)).
• I have many and heavy search pages, with rendered entities, but some fields are not visible to anonymous users.

If you mind, please see http://www.weddit.com/en/organizza/location

Thanks