The Z-ring is a structure formed during cell division in prokaryotic cells, specifically at the site of cytokinesis. It plays a crucial role in the process of binary fission, where it helps to constrict the cell membrane, leading to the separation of daughter cells. The Z-ring is composed mainly of the protein FtsZ, which is similar to tubulin in eukaryotic cells, and its formation marks the midpoint of a dividing cell.