PNG (Portable Network Graphics) is a lossless image format that was created to replace the GIF format and to offer a better alternative to the JPEG format. PNG images are commonly used on the web and in graphics software, and they support a wider range of color depths, including 24-bit RGB and 32-bit RGBA, which allows for transparent backgrounds. They also support gamma and chromaticity correction information and are designed to handle images with arbitrary gamma and color correction. In addition, PNG images support a wider range of features, such as gamma correction, chromaticity information, and transparency, compared to other image formats.