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PNG
Developed as a patent-free alternative to GIF, the Portable Network Graphics (PNG) format is used for losslessly compressing and displaying images on the World Wide Web. Unlike GIF, PNG supports 24-bit images and produces background transparency without jagged edges; however, some older versions of Web browsers may not support PNG images. The PNG format supports grayscale and RGB colour modes with a single alpha channel, and Bitmap and indexed-colour modes without alpha channels. PNG uses the saved alpha channel to define transparency in the file
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