WordPiece is Google's subword algorithm, developed for Japanese/Korean voice search in 2012 and famously used by BERT. It is BPE-shaped — bottom-up merges — but the merge criterion is different.
Instead of merging the most frequent pair, WordPiece merges the pair that maximizes the likelihood of the training data under a unigram language model. Concretely, it picks the pair (a, b) that maximizes count(ab) / (count(a) × count(b)). This tends to prefer merges that capture morphological boundaries rather than just frequent character co-occurrences.
The output marks continuation pieces with the prefix ##. So "unbelievable" becomes ['un', '##believ', '##able']. Detokenization is exact: drop the ## on continuation pieces, concatenate, and you get the original word back.