GIF (Graphics Interchange Format) is a form of bitmap image developed by CompuServe in 1987. Typically, GIFs use a lossless data compression technique for a reduced file size without sacrificing the image quality. GIFs are generally used to save low-resolution video clips and small animations for streaming over the internet.
TIFF (Tagged Image File Format) is a standard computer image file format used for saving raster graphic images. It was first developed for desktop publishing by Aldus Corporation, which was later acquired by Adobe Systems in 1994. Interestingly, TIFFs can store information in lossless format and also supports the LZW compression algorithm for reducing the file size.