PNG is a lossless format that supports transparency and is best suited for graphics with fewer colors, such as logos, icons, and line art. It uses a palette of up to 24-bit colors to store images, resulting in a larger file size than GIF. PNG images do not support animation, making them less suitable for animated graphics.
WebP format supports both lossy and lossless compression and uses advanced compression algorithms to achieve smaller file sizes than PNG format while maintaining good image quality. WebP lossless images are 26% smaller in size compared to PNGs.
Compared to PNG, which is a lossless format that supports transparency and is best suited for graphics with fewer colors, WebP offers several advantages. While PNG can achieve good image quality, it often results in larger file sizes than WebP. WebP also supports animation, which is not possible with PNG. In addition, WebP is a newer format that uses more advanced compression algorithms than PNG, making it a better choice for images that need to load quickly on the web.