Since the arrival of the Flash Player 9 alpha (in 2006) a newer version of ActionScript has been released, ActionScript 3.0. This version of the language is intended to be compiled and run on a version of the ActionScript Virtual Machine that has been itself completely re-written from the ground up (dubbed AVM2). Because of this, code written in ActionScript 3.0 is generally targeted for Flash Player 9 and higher and will not work in previous versions. At the same time, ActionScript 3.0 executes up to 10 times faster than legacy ActionScript code due to the Just-In-Time compiler enhancements.