WebP : A New Image Format by Google To Replace JPEG

In its journey to make web more faster google has recently launched a new image format called WebP.Google posted about it on its Chromium blog.

Well WebP is going to complete with JPEG,the most widely used of the web’s image formats. Like JPEG, the new format is intended to be used for photos on web pages, and like JPEG, the photos in a WebP image are compressed using lossy technology. The images will continue to reduce in quality the more you compress them.WebP is being released as a developer preview, so its not supported by any major web browsers, camera manufacturers, or the software we use to make JPEGs, like Photoshop.
Most of the common image formats on the web today were established over a decade ago and are based on technology from around that time. Some engineers at Google decided to figure out if there was a way to further compress lossy images like JPEG to make them load faster, while still preserving quality and resolution. As part of this effort, we are releasing a developer preview of a new image format, WebP, that promises to significantly reduce the byte size of photos on the web, allowing web sites to load faster than before.
Most of the web pages using jpeg/png/gif to compress their webpage images and reduce page loading time.To improve on the compression that JPEG provides, Google used an image compressor based on the VP8 codec that Google open-sourced in May 2010.WebP is also allow authors to save meta-data they would like to store.
Google’s test of new image format resulted in an average 39% reduction in file size.You can check Google’s work in a gallery comparing the JPEG and WebP images. You can also download a conversion tool and try out the tech for yourself.

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