RAID 3, which is rarely used in practice, consists of byte-level striping with a dedicated parity disk.
RAID 3 requires at least 3 drives to implement.
Characteristics & Advantages
Very high Read and Write data transfer rate
Insignificant impact on throughput due to disk failure
The ratio of Parity disks to data disks is low, which means higher efficiency
Disadvantages
Transaction rate equal to a single disk drive at best
Controller design is fairly complex
Very difficult and resource intensive as a software implementation
Cannot provide service in multiple requests simultaneously