Pi-hole
In short: Pi-hole is a network tool that blocks ads and trackers at DNS level for all devices on the home network.
In more detail: The program usually runs on a Raspberry Pi and acts as a DNS server. If a device asks for an ad domain, Pi-hole answers with an empty address.
In Depth
How it works
The device queries DNS, Pi-hole compares the domain with blocklists and blocks matches. Everything else is passed on to a real DNS server.
Pros and cons
Advantage: also blocks in apps and smart TVs that have no ad blocker. Disadvantage: only blocks domains, not ads served from the same domain as the content, and can break sites. See tracking.
See also: DNS, Raspberry Pi, Tracking