PNG is a raster image format developed by PNG Development Group. The name PNG is an abbreviation for Portable Network Graphic. This image format is used primarily on the Internet for posting on web pages, since PNG files use Deflate compression without losing quality. The development of this format was undertaken in order to replace the GIF format, to which there were many complaints. PNG's image quality and specifications were much better, but unlike GIF, it does not support animation and uses the CMYK palette.
WebP is an open-source format for image files, raster images. Created in 2010 by Google for web graphics in order to quickly upload images to web pages. This is the main advantage of WebP files. Compression of images in this format can go with or without loss, depending on what level of quality you want to achieve. Thus, lossless compression is 26% better than in PNG files. If quality loss is acceptable, then compression in WebP format is 25-34% better than in JPEG files. Full support for WebP is not yet available on Firefox, Internet Explorer, and Safari.