GIF
GIF (Graphics Interchange Format) is limited to an 8-bit palette, or 256 colors. This makes the GIF format suitable for storing graphics with relatively few colors such as simple diagrams, shapes, logos and cartoon style images. The GIF format supports animation and is still widely used to provide image animation effects. It also uses a lossless compression that is more effective when large areas have a single color, and ineffective for detailed images or dithered images.