JPEG is a commonly used method of lossy compression for photographic images. 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 little perceptible loss in image quality
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PNG:(Portable Network Graphics), is a bitmapped image format that imploys lossless data compression. PNG was created to improve upon and replace GIF (Graphics Interchange Format) as an image-file format not requiring a patent license.The PNG acronym is optionally, recursive, unofficially standing for PNG'S Not GIF PNG supports palette-based images (with palettes of 24-bit RGB or 32-bit RGBA colors),greyscale images (with or without alphachannel), and RGB A images (with or without alpha channel). PNG was designed for transferring images on the Internet, not for print graphics, and therefore does not support non-RGB color spaces such as CMYK.
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http://en.wikipedia.org/wiki/Portable_Network_Graphics:
GIF: The Graphics Interchange Format (GIF) is a bitmap image format that was introduced by CompuServe in 1987 and has since come into widespread usage on the Worl Wide Web due to its wide support and portability.
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http://en.wikipedia.org/wiki/Graphics_Interchange_Format
TIFF: Tagged Image File Format is a file format for storing images, popular among Apple Macintosh owners, graphic artists, the publishing industry, and both amatuer and professional photographers in general. As of 2009, is is under the control of Adobe Systems.
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http://en.wikipedia.org/wiki/Tagged_Image_File_Format
