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.
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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.