PNG pronounced ping is a format for storing bitmapped (raster) images on computers. It was created originally to replace the GIF file format when it was announced that the companies who created the GIF format wanted royalties. PNG uses indexed colors and lossless compression (like a .GIF file), but without those copyright limitations; it cannot be animated like a GIF image.
PNG images are in many ways better than .GIF as they also include an 8-bit transparency channel, which allows the colors in the image to fade from opaque to transparent; GIF images only support fully opaque or fully transparent pixels. PNG supports palettes of 24-bit RGB colors, RGB images or greyscale or RGB images. PNG was intended to be able to transfer images on the Internet, not professional graphics, and so does not support other colour spaces (such as CMYK).
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JPG's are often used for web sites and email as they are generally smaller file sizes as they are lossy meaning that some image quality is lost when the JPG is compressed and saved. The resultant 'lossy' file means that quality can never be recovered. The JPG format is often used in digital camera memory cards. The JPG file is a great format as it often manages to compress files to 1/10 of the size of the original file which is especially good for saving on bandwidth.
JPG is a graphical file format for editing still images, it offers a symmetrical compression technique which is processor intensive and time consiming in both compression and decompression. JPEG is a joint standard of the International Telecommunications Union (ITU-T T.81) and the International Organization for Standardization (ISO 10918-1). JPEG involves a lossy compression mechanism using discrete cosine transform (DCT). Compression rates of 100:1 can be achieved, although the loss is noticeable at that level. Compression rates of 10:1 or 20:1 yield little degradation in image quality.
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