How does compilation work under the hood in Ivy?

// Component input source:
// template: '<h1>Hello {{ name }}</h1>'

// Ivy Compiler compiled javascript output code:
static ɵcmp = i0.ɵɵdefineComponent({
  type: GreetingComponent,
  selectors: [["app-greeting"]],
  template: function GreetingComponent_Template(rf, ctx) {
    if (rf & 1) {
      i0.ɵɵelementStart(0, "h1");
      i0.ɵɵtext(1);
      i0.ɵɵelementEnd();
    }
    if (rf & 2) {
      i0.ɵɵadvance(1);
      i0.ɵɵtextInterpolate1("Hello ", ctx.name, "");
    }
  }
});