WebP is an open standard for image encoding. It is intended to provide support for animation, metadata, lossless compression, and transparency without the patent or license restrictions of existing formats.
WebP is a new image format that provides lossless and lossy compression for images on the web. WebP lossless images are 26% smaller in size compared to PNGs. WebP lossy images are 25-34% smaller in size compared to JPEG images at equivalent SSIM index. WebP supports lossless transparency (also known as alpha channel) with just 22% additional bytes. Transparency is also supported with lossy compression and typically provides 3x smaller file sizes compared to PNG when lossy compression is acceptable for the red/green/blue color channels.