png PNG stands for portable network graphics. It is the raster graphics format associated with the .png filename extension. Unlike GIF format, the limitation of 256 colors does not hold with the PNG format. In fact this among other reasons was the motivation behind development of the PNG format to improve upon the GIF format. The PNG format however uses a single image format and thus does not support animations. Because the format was engineered to ease the distribution of graphic files across computer networks it is also not well suited for professional graphics.
jpg The .jpg filename extension refers to digital photography files or digital images that are associated with the JPEG file format specification. The joint photographic experts group, or JPEG for short, is a file format from the 'lossy image' class of image formats. Many devices including smartphones with inbuilt cameras and professional digital SLR cameras support the JPEG/Exif file format natively. Such support allow images captured on these devices to be stored directly into the jpg format without conversion. Efforts towards standardization of the JPEG format first begun in 1992 with ISO/IEC 10918-1:1994