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"10,000 players in one world at 20 TPS"

I don't know what a TPS is. Triangle per second? Or is that a reference to "Office Space"?

It’s likely ticks per second. Fairly common terminology in video game servers

Yeah, it's ticks per second. In Minecraft, 20 is the perfect TPS.

Yes. One Minecraft game tick is 50 milliseconds. 20tps means "no physics lag".