Liquid Render Performance Analysis

Shopify has evolved its Liquid rendering engine, Liquid-C, by introducing a VM and refactoring its bytecode instruction structure to remove the constant pointer. This change aims to improve performance by allowing for more flexible instruction pointer movement and reducing duplicate constants in the VM's constant array. While the initial refactor slightly increased memory usage and parsing time, it lays the groundwork for implementing If and For tags, which are expected to significantly boost rendering speed. The project is open-source and seeks community contributions.