When it comes to online world, speed is very important. Nobody likes if a website takes lot of time to load its contents and if the page is full of images then the time taken to load all of them would also be high. Thus if you are a webmaster, then you definitely need to find out some compression methods that can reduce the size of the images being uploaded.
Recently, Google has come up with this new image format called WebP which is an image format that provides lossless and lossy compression for images on the web. WebP lossless images are 26% smaller in size as compared to PNGs whereas WebP lossy images are 25-34% smaller in size as compared to JPEG images.
So if you use WebP images instead of your regular JPGs and PNGs by converting them into WebP format, you can heavily save upon your bandwidth and speed. If a website uses the WebP format instead of the regular formats, it can reduce its load time considerably. Webmasters and web developers can use the WebP image format to create smaller and richer images that can help make the web faster.
According to Google, by converting PNGs and JPEGs to WebP, the Chrome Web Store was able to reduce image sizes by about 30% on average. See a sample WebP image at 8.3kb here and the regular jpg image at 32kb here.
How WebP works
Lossy WebP compression uses predictive coding to encode an image, the same methodology used by the VP8 video codec to compress keyframes in videos. Predictive coding uses the values in neighboring blocks of pixels to predict the values in a block, and then encodes only the difference (residual) between the actual values and the prediction.
WebP Image Converter
To be able to convert your regular JPEG and PNG images into WebP, you need a WebP image converter which can be downloaded free from the location below. [via]