Back in the days when dial up connections were the norm, loading images on the browser was a giant pain. It just took too much time and bandwidth. With high speed Internet, this is hardly a concern today.
Nowadays websites are more visual and dynamic than ever before. Especially when it comes to images on websites, most of them are at a much higher resolutions than before. JPEG and PNG are some of the most common image formats that we come across on the Internet.
Even smartphones nowadays come with full HD resolutions making it important for website designers to use higher resolution images. A lot of the new websites go for full screen images or hi-resolution ones, which end up being large files when used in the JPEG and PNG formats. These large file sizes affect web space usage as well as eats up precious data bandwidth especially for users with slow Internet speeds. Inspite of having tools to reduce the size, none of them can achieve it without loss of image quality and in some cases even image pixelation.
To tackle all these issues current image formats face, developers at Google came up...