The Secure Hash Algorithm 3 (SHA3) is the latest member of the Secure Hash Algorithm group of standards. Released by the National Institute of Standards and Technology (NIST). SHA3 uses a Sponge function which is different from the algorithm used in SHA1, SHA2, and MD5.
SHA3 provides the same range of digest sizes (224, 256, 384, and 512 bits) as SHA2 and is intended to replace SHA2.