diff --git a/lbrynet/blob_exchange/downloader.py b/lbrynet/blob_exchange/downloader.py
index 0d9381f50..38bf12ba3 100644
--- a/lbrynet/blob_exchange/downloader.py
+++ b/lbrynet/blob_exchange/downloader.py
@@ -1,7 +1,7 @@
 import asyncio
 import typing
 import logging
-from lbrynet.utils import drain_tasks
+from lbrynet.utils import drain_tasks, cache_concurrent
 from lbrynet.blob_exchange.client import request_blob
 if typing.TYPE_CHECKING:
     from lbrynet.conf import Config
@@ -90,6 +90,7 @@ class BlobDownloader:
         for banned_peer in forgiven:
             self.ignored.pop(banned_peer)
 
+    @cache_concurrent
     async def download_blob(self, blob_hash: str, length: typing.Optional[int] = None) -> 'AbstractBlob':
         blob = self.blob_manager.get_blob(blob_hash, length)
         if blob.get_is_verified():
diff --git a/lbrynet/utils.py b/lbrynet/utils.py
index 0e43ee313..057dc11fa 100644
--- a/lbrynet/utils.py
+++ b/lbrynet/utils.py
@@ -166,6 +166,50 @@ def async_timed_cache(duration: int):
     return wrapper
 
 
+def cache_concurrent(async_fn):
+    """
+    When the decorated function has concurrent calls made to it with the same arguments, only run it the once
+    """
+    running: typing.Optional[asyncio.Event] = None
+    cache: typing.Dict = {}
+
+    def initialize_running_event_and_cache():
+        # this is to avoid automatically setting up an event loop by using the decorator
+        nonlocal running
+        if running is not None:
+            return
+        loop = asyncio.get_running_loop()
+        running = asyncio.Event(loop=loop)
+
+    @functools.wraps(async_fn)
+    async def wrapper(*args, **kwargs):
+        if running is None:
+            initialize_running_event_and_cache()
+        loop = asyncio.get_running_loop()
+        key = tuple([args, tuple([tuple([k, kwargs[k]]) for k in kwargs])])
+        if running.is_set() and key in cache:
+            return await cache[key]
+        running.set()
+        if key not in cache:
+            cache[key] = loop.create_future()
+        error = False
+        try:
+            result = await async_fn(*args, **kwargs)
+            cache[key].set_result(result)
+        except Exception as err:
+            cache[key].set_exception(err)
+            error = True
+        finally:
+            fut = cache.pop(key)
+            if not cache:
+                running.clear()
+        if error:
+            raise fut.exception()
+        return fut.result()
+
+    return wrapper
+
+
 @async_timed_cache(300)
 async def resolve_host(url: str, port: int, proto: str) -> str:
     if proto not in ['udp', 'tcp']: