A waterfall is a traditional ad serving and bid prioritization method publishers use to fill their ad inventory. The Waterfall approach involves a sequential process where the first bid higher than the floor price wins.

In recent years, the Waterfall model has mainly been replaced or augmented by more advanced ad-serving techniques, such as header bidding and unified auction models, which enable simultaneous real-time evaluation of multiple demand sources, resulting in increased yield and efficiency for publishers.

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