TimescaleDB is an open-source time-series database that extends PostgreSQL to improve query performance by 1,000x or more and reduce storage utilization by up to 90%. It achieves this through features such as hypertables for efficient data partitioning, compression algorithms for reduced disk consumption, continuous aggregates for faster analytical queries, and a library of hyperfunctions for complex time-series analysis. TimescaleDB also provides built-in job scheduling and retains full compatibility with PostgreSQL and SQL.