So it's closer to V8's "basic" JIT?
The systems that it has the most in common with are actually binary translators; e.g., VMware's software x86 hypervisor, or the Dynamo system. Those systems run basic block at a time to solve a number of problems; e.g., disambiguation of code and data. We're basic-block-at-a-time for a different reason: closure under type inference.