The portable network graphics image format is designed to replace the GIF. In fact, PNG is sometimes jokingly said to really stand for "PNG's not GIF". PNG is completely lossless and can handle millions of colors; it is not limited to a palette of two-hundred fifty-six like GIF. It also has full support for transparent colors. Its only real disadvantage is that right now not all browsers support it directly. It has been recommended by the W3C, though, so odds are pretty good that most (if not all) future versions of browsers will provide direct inline support for PNG, and PNG images will start to become more commonplace on the web.