GIF
Bitmap image file format family
The Graphics Interchange Format (GIF; GHIF or JIF, see § Pronunciation) is a bitmap image format that was developed by a team at the online services provider CompuServe led by American computer scientist Steve Wilhite and released on June 15, 1987. Compared with the later WebP format, GIF is limited to a palette of at most 256 colors per frame and only binary (on/off) transparency, whereas animated WebP supports 24-bit color with 8-bit alpha transparency and both lossy and lossless compression. According to Google, animated GIFs converted to lossy WebP are on average about 64% smaller, and lossless WebP animations about 19% smaller than the equivalent GIFs.
From Wikipedia, under CC BY-SA. More on occurri.