Sets/updates the value of a transient.

You do not need to serialize values. If the value needs to be serialized,
then it will be serialized before it is set.

function set_transient( $transient, $value, $expiration = 0 ) {

	$expiration = (int) $expiration;

	/**
	 * Filters a specific transient before its value is set.
	 *
	 * The dynamic portion of the hook name, `$transient`, refers to the transient name.
	 *
	 * @since 3.0.0
	 * @since 4.2.0 The `$expiration` parameter was added.
	 * @since 4.4.0 The `$transient` parameter was added.
	 *
	 * @param mixed  $value      New value of transient.
	 * @param int    $expiration Time until expiration in seconds.
	 * @param string $transient  Transient name.
	 */
	$value = apply_filters( "pre_set_transient_{$transient}", $value, $expiration, $transient );

	/**
	 * Filters the expiration for a transient before its value is set.
	 *
	 * The dynamic portion of the hook name, `$transient`, refers to the transient name.
	 *
	 * @since 4.4.0
	 *
	 * @param int    $expiration Time until expiration in seconds. Use 0 for no expiration.
	 * @param mixed  $value      New value of transient.
	 * @param string $transient  Transient name.
	 */
	$expiration = apply_filters( "expiration_of_transient_{$transient}", $expiration, $value, $transient );

	if ( wp_using_ext_object_cache() || wp_installing() ) {
		$result = wp_cache_set( $transient, $value, 'transient', $expiration );
	} else {
		$transient_timeout = '_transient_timeout_' . $transient;
		$transient_option  = '_transient_' . $transient;

		if ( false === get_option( $transient_option ) ) {
			$autoload = 'yes';
			if ( $expiration ) {
				$autoload = 'no';
				add_option( $transient_timeout, time() + $expiration, '', 'no' );
			}
			$result = add_option( $transient_option, $value, '', $autoload );
		} else {
			// If expiration is requested, but the transient has no timeout option,
			// delete, then re-create transient rather than update.
			$update = true;

			if ( $expiration ) {
				if ( false === get_option( $transient_timeout ) ) {
					delete_option( $transient_option );
					add_option( $transient_timeout, time() + $expiration, '', 'no' );
					$result = add_option( $transient_option, $value, '', 'no' );
					$update = false;
				} else {
					update_option( $transient_timeout, time() + $expiration );
				}
			}

			if ( $update ) {
				$result = update_option( $transient_option, $value );
			}
		}
	}

	if ( $result ) {

		/**
		 * Fires after the value for a specific transient has been set.
		 *
		 * The dynamic portion of the hook name, `$transient`, refers to the transient name.
		 *
		 * @since 3.0.0
		 * @since 3.6.0 The `$value` and `$expiration` parameters were added.
		 * @since 4.4.0 The `$transient` parameter was added.
		 *
		 * @param mixed  $value      Transient value.
		 * @param int    $expiration Time until expiration in seconds.
		 * @param string $transient  The name of the transient.
		 */
		do_action( "set_transient_{$transient}", $value, $expiration, $transient );

		/**
		 * Fires after the value for a transient has been set.
		 *
		 * @since 3.0.0
		 * @since 3.6.0 The `$value` and `$expiration` parameters were added.
		 *
		 * @param string $transient  The name of the transient.
		 * @param mixed  $value      Transient value.
		 * @param int    $expiration Time until expiration in seconds.
		 */
		do_action( 'setted_transient', $transient, $value, $expiration );
	}

	return $result;
}