File Extension

File Extension:
.PNG = Portable Network Graphics. It also uses a lossless compression and is normally used to store graphics for web images. This format was developed in response to the limitations with the GIF format. Its primary use is to increase colour support. PNG can use an 8-bit transparency channel; this allows the image colours to fade from opaque to transparent and can allow an image not to have a coloured background it can just be completely transparent. however one downside to PNG images is that they cannot be animated like GIFs, however, a similar format to PNG, .MNG format can be animated. PNG files do not have a CMYK colour support because they are not intended for professional use in graphics. PNGs are supported by most Web browsers. 
.GIF = Graphics Interchange Format. This file format is mainly used for images on the web. Different to the JPEG format, GIFs use lossless compression; meaning that the quality of the images stays the same. GIFs also can store there data using indexed colour. This means it can include a maximum of 256 colours. 
.JPG/JPEG = Joint Photographic Experts Group. It uses Lossy compression. This format is the standard format used. It is able to be up to 24-bit. In one of my assignments I was asked to edit a number of images in an assignment i used Photoshop to edit these images however had to convert the files to other formats after i realised that the .PSD file type was taking all of my memory up and therefore had to convert them.