Bring a large saucepan of salted water to a boil over medium-high heat. Add the corn and cook until tender, about 5 to 7 minutes. Using tongs, transfer the corn to a platter and allow them to cool slightly. Using a serrated knife, remove the kernels from the corn. Divide the corn between 4 individual cups or small glasses. Put 1 tablespoon mayonnaise and 1 tablespoon butter in each glass. Sprinkle with cheese, chili powder, and salt. Serve with the lime wedges, if desired.