JPEG

JPEG images are commonly used by digital cameras of today. JPEG images renders 24 bits color photo realistic images and employs a lossy compression algorithm which allows images to be kept small. It is the most commonly used image format for image sharing and is also widely used on the internet.

JPEG 2000

JPEG 2000 is the new imaging format which is slowly gaining popularity. It employs a better compression algorithm thus allowing for smaller files size compared to its JPEG counterpart and yet retaining a high level of image quality. This is accomplished by using the wavelet technology resulting in about 20% further reduction in file size.

The initial file extension for JPEG 2000 files was .j2k but was replaced in 1999 because of its similarity with y2k. It has since been replaced by the .jp2 file extension.

The major shortfall is the slow reception of this platform by natively by Windows or the Web Browsers.

PNG

PNG images are 24 bits (16.7 million colors)  color images but employs a lossless compression algorithm which does not degrade each time you save the images. This format is support on the internet but because of its file size, it is used for images which requires the highest quality. This image is supported by modern web browsers.

BMP

In iRedSoft Image Resizer, only 24 bits bitmap images are support. They are the basic image format native to the Windows Operating System. It too employs a lossless compression algorithm. This format is not supported on the internet.

GIF

GIF renders only 8 bits ( 256 colors) images. For thumbnails and small images, GIF makes a good format to use. It is supported on the internet.