PNG pronounced ping is a format for storing bitmapped (raster) images on computers. It was created originally to replace the GIF file format when it was announced that the companies who created the GIF format wanted royalties. PNG uses indexed colors and lossless compression (like a .GIF file), but without those copyright limitations; it cannot be animated like a GIF image.
PNG is a scan-line graphic format developed as an alternative to GIF, which had a commercial license. It is based on the best features of the predecessor, including lossless compression and transparent background support. The PNG technology ensures the preservation of all stages of editing and the restoration of the step with the preservation of quality. However, it does not allow to save several pictures in one file at once, which limits its use in the development of animated images.
PNG images are in many ways better than .GIF as they also include an 8-bit transparency channel, which allows the colors in the image to fade from opaque to transparent; GIF images only support fully opaque or fully transparent pixels. PNG supports palettes of 24-bit RGB colors, RGB images or greyscale or RGB images. PNG was intended to be able to transfer images on the Internet, not professional graphics, and so does not support other colour spaces (such as CMYK).
The PNG extension was proposed as a tool that helps to transfer and store images on the World Wide Web. The technology is limited to an 8-bit transparency channel, so you can adjust the colors from opaque to transparent. It supports 24-bit RGB colors, matching images and shades of gray. However, as a non-professional format, PNG can not display other color spaces. Most programs allow to open such files, they can also run in any browser. Images are different in small weight with good quality.
PNG Development Group
PNG Development Group (donated to W3C)