I have a short question about Time evolving block decimation (TEBD). During a lecture I was told that this method is very efficient in evolving 1D quantum spin systems with only nearest neighbor interactions. Unfortunately no one bother explaining why this algorithm is so efficient in this case and what exactly its limitations are. Wikipedia only has the following sentence in the introduction
The algorithm [...] is highly efficient when the amount of entanglement in the system is limited, a requirement fulfilled by a large class of quantum many-body systems in one dimension.
but without any further explanation why. So, what exactly is the huge advantage of TEBD when working with 1D quantum spin systems compared to other, more well known, approaches to evolve a system in time?