PNG
Portable Network Graphics is a raster-graphics file format that supports lossless data compression. PNG was developed as an improved, non-patented replacement for Graphics Interchange Format (GIF).
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JPEG
JPEG is a commonly used method of lossy compression for digital images, particularly for those images produced by digital photography. The degree of compression can be adjusted, allowing a selectable trade off between storage size and image quality. JPEG typically achieves 10:1 compression with a loss in image quality that, while perceptible, is widely agreed upon to be acceptable. Since its introduction in 1992, JPEG has been the most widely used image compression standard in the world, and the most widely used digital image format, with several billion JPEG images produced every day as of 2015.