Bzip3 is a compression algorithm that claims to be a spiritual successor to BZip2, offering higher compression ratios and better performance. It uses a combination of techniques, including a Burrows-Wheeler transform and a RLE with Lempel Ziv+Prediction pass. The algorithm has been benchmarked against other compression algorithms, including zstd, and has shown promising results. However, some users have raised concerns about the benchmarking methodology and the algorithm's decompression performance.