The document discusses the Z-buffer algorithm, which is used in computer graphics for rendering 3D scenes in real-time. It works by keeping track of the depth of each pixel as objects are rendered, and compares the depth of new objects to existing pixels to determine which should be drawn or hidden. The key advantages are that it is simple to implement, can handle any opaque surface, and is well-suited for real-time applications like video games. Its primary applications are in video games and other 3D computer graphics that require fast processing of scenes.