WebP is an image format employing both lossy and losslesscompression. It is currently developed by Google, based on technology acquired with the purchase of On2 Technologies. As a derivative of the VP8 video format, it is a sister project to the WebM multimedia container format. WebP-related software is released under a BSD license. The format was first announced in 2010 as a new open standard for lossily compressed true-color graphics on the web, producing smaller files of comparable image quality to the older JPEG scheme.
Portable Network Graphics (PNG), is a raster graphics file format that supports lossless data compression. PNG was created as an improved, non-patented replacement for Graphics Interchange Format (GIF), and is the most used lossless image compression format on the Internet. PNG supports palette-based images (with palettes of 24-bit RGB or 32-bitRGBA colors), grayscale images (with or without alpha channel), and full-color non-palette-based RGB[A] images (with or without alpha channel). PNG was designed for transferring images on the Internet, not for professional-quality print graphics, and therefore does not support non-RGB color spaces such as CMYK.