1) Direct Digital Synthesizer (DDS) is an advanced function generator that can generate a wide range of frequencies with high precision and low distortion.
2) A DDS uses a fixed clock frequency and phase accumulator to generate waveforms at different output frequencies. It stores waveform points in a lookup table and outputs approximations of the waveform.
3) DDS has advantages over traditional function generators as it can easily change frequency using only digital controls and has applications in signal generation, mixing, and frequency synthesis.