PyPy -- How can it possible beat CPython?

Posted by Vulcan Eager on Stack Overflow See other posts from Stack Overflow or by Vulcan Eager
Published on 2010-04-07T11:13:02Z Indexed on 2010/04/07 11:13 UTC
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From the Google Open Source Blog:

PyPy is a reimplementation of Python in Python, using advanced techniques to try to attain better performance than CPython. Many years of hard work have finally paid off. Our speed results often beat CPython, ranging from being slightly slower, to speedups of up to 2x on real application code, to speedups of up to 10x on small benchmarks.

How is this possible? Which Python implementation was used to implement PyPy? CPython? And what are the chances of a PyPyPy or PyPyPyPy beating their score?

(On a related note... why would anyone try something like this?)

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