JPG
JPEG is the abbreviation of the exchange format for image files created using the JPEG compression method. JPEG is the most commonly used image format in digital photography.
Typically, JPEG compression reduces the file size by a factor of 10.
JPEG's compression algorithm is very suitable for images and drawings with even color transitions. The compression algorithm is not well suited for graphics or font representations, where the representation of sharp edges is essential. In such a use-case strong artifacts can occur on those sharp transitions.
Furthermore, JPEG is not well suited for multiple editing or manipulation of image files, because with each intermediate storage the quality decreases and the probability of artifacts increases.
Advantages:
- High compression, which can also be precisely controlled
- Prevalent and compatibility
- High image quality when low compression is used
Disadvantages:
- not suitable for texts and graphics
- multiple storage massively degrades quality
https://www.dpconline.org/handbook/technical-solutions-and-tools/file-formats-and-standards
http://www.nationalarchives.gov.uk/documents/information-management/graphic-file-formats.pdf