PNG (Portable Network Graphics Format)

The PNG format (pronounced Ping) was developed as alternative to the GIF format and, like GIF, is used for displaying images on the World Wide Web and other online services. PNG preserves all color information in an image and uses a lossless compression scheme to reduce file size. PNG has several advantages: it is royalty free, 24 bit supported, and gives better compression. Time will tell whether it catches on!