Ticks
Without ticks, there is no possible way to make concentrated liquidity work.
Tick is the boundaries between discrete areas in price space. It represents a difference in the price.
To better illustrate what a tick is, we will show it with an example. Imagine, than you are creating liquidity position, and you have to choose price range.
Every time a price is calculated by multiplying it by the previous price by , then the price change is always the same as .
There is also the concept of tick spacing for each pool e.g., a tick spacing of 5 requires ticks to be initialized every 5th tick i.e., ..., -10, -5, 0, 5, 5, ...