WebP is a modern image format that allows efficient lossless and lossy compression, resulting in faster loading times and higher quality images. Web developers can utilize this format to improve the user experience on their websites. WebP supports transparency (also known as alpha channel) and WebP images are 26% smaller in size compared to PNGs. WebP images are 25-34% smaller than comparable JPEG images. Nowadays, most browsers such as Chrome, Firefox, Edge can display WebP format.