GIF is an bitmap image format that was introduced by CompuServe. .gif file format is common used to store low-color sprite data for games or small animations and low-resolution film clips. GIF images can also be animated and saved as "animated GIFs," which are often used to display basic animations on websites.

PNG (Portable Network Graphics) is an extensible file format for the lossless, portable, well-compressed storage of raster images. .png contains a bitmap of indexed colors and uses lossless compression and often used to store graphics for Web images.

1. On small images, GIF can achieve greater compression than PNG.
2. On most images, except for the above cases, GIF will be bigger than indexed PNG.
3. PNG gives a much wider range of transparency options than GIF.
4. GIF is limited to 8-bit indexed color, PNG gives a much wider range of color depths 24-bit, 48-bit.
5. GIF intrinsically supports animated images. PNG supports animation only via unofficial extensions.

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Related Post of GIF vs PNG Compare