OpenShift V3 is a container-based platform that uses Docker and Kubernetes to deploy and manage containers. It allows for various deployment types including rolling deployments and blue-green deployments. OpenShift V3 provides a number of services for developing, deploying and managing applications, and integrates with DevOps practices like CI/CD. It utilizes containerization, microservices and a PaaS model to provide a way for organizations to build and run scalable applications.