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Open standard WebP image format was created by Google in 2010 and supports lossless and lossy compression. With the new compression algorithm, Google claims images can be compressed by as much as 34 percent while maintaining high quality. Because WebP images require less storage space, the internet as a whole could be speeded up, according to theory. Google advanced WebP in order to create smaller, better-looking images that would help speed up the web's response time. In addition to VP8 image data, a WepB file contains a RIFF-formatted container. It's a new image format for pictures that uses lossless compression.

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