JPG is a lossy image compression file format invented in 1992. JPG is also known as JPEG and is the most used image file format in the world. JPG does not support transparency instead of PNG or some other formats. JPG compression reduces the image size without losing the image quality. JPG is also an old format, and there are a lot of better image formats out now with the same features for the same tasks. On the other hand, a big advantage is that JPG is known/ supported by every type of software you can imagine because of his age and popularity in the past.
The AVIF Image File Format is an image file format specification for storing images or image sequences compressed with AV1 in the HEIF container format. It competes with HEIC, which uses the same container format built upon ISOBMFF, but HEVC for compression.
AVIF is a new and high-efficient image format based on the AV1 video format. The format is open-source and royalty-free, developed by a collaboration of Google, Cisco, and Xiph.org.
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