React: How to prevent components from re-rendering?

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This is one of the most frequently asked questions,

1. shouldComponentUpdate() — returns ‘true’ by default. You can override if you know which props have to trigger an update.
2. PureComponents — The difference between them is that React.Component doesn’t implement shouldComponentUpdate method but React.PureComponentimplements it with a shallow prop and state comparison.
3. React.memo — The same as the previous one but it works with functional components.

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