Explore trace-based optimizations for enhancing CPython's performance in this 55-minute EuroPython 2011 conference talk. Delve into the CPython VM, understand the concept of tracing, and learn how to modify CPython for tracing purposes. Examine the process of optimizing traces and address the challenges associated with tracing bytecode. Discover lower-level bytecodes, SPAM instructions, and their equivalents. Investigate the main trace-based optimizations, including the optimizer chain, guards, trace initiation, and specialization techniques. Gain insights into the D.O.C. (Dynamic Optimizing Compiler) and the compilation process. Acquire valuable knowledge on making CPython faster through innovative trace-based optimization strategies.