Twitter chats are real-time discussions conducted on Twitter using a specific hashtag, usually organized by a moderator who facilitates the conversation through pre-determined questions. Participants need to be familiar with the discussion topic, follow the moderator, and be aware of the time and date of the chat, especially considering time zones. Various tools like TweetDeck or Twubs can enhance the experience by helping to manage the fast-paced nature of the chat and streamlining engagement with other participants.