JPG, sometimes called JPEG, is a standard image format developed by the Joint Photographic Experts Group. JPG uses a high degree of lossy compression to give it a small file size while sacrificing the overall image quality. It can achieve up to an impressive 10:1 compression algorithm. Today, it’s the most widely used image format, thanks to its seamless compatibility with the World Wide Web and most image viewing and editing apps.
Adobe Photoshop Adobe Photoshop Lightroom Apple Preview
PNG (Portable Network Graphics) is a raster image file format released in 1996 as a replacement for JPEG. That said, PNG uses lossless compression that gives it a small file size while still maintaining the original image quality. Today, PNG format is widely used to share image graphics over the internet and is supported by programs like Paintshop Pro, Adobe Photoshop, Microsoft Paint, Apple’s Preview, etc.