Browsers that support GIF
Internet Explorer 5, 6, 7, 8, FireFox, Chrome, Safari, Opera
Browsers that support PNG
Internet Explorer 7, 8, FireFox, Chrome, Safari, Opera
Transparency
Both GIF and PNG formats support some level of transparency. With GIFs the transparency is quite crude, but the format is very widely supported. With PNG, the transparency is much more controllable, but older browsers do not support it.
PNG files support “alpha” transparency. This format has an extra colour channel in addition to the usual red, green, and blue (RBG), known as Alpha Channel. This channel contains gray scale data where the shades of gray relate to the transparency (or opacity) of the image, allowing very subtle fading effects to be used.
Advantages of PNG
Colour depth of either 8-bit (256 colors) or 24-bit (16,777,216 colors)
Support for alpha channels with variable transparency
Support for cross-platform gamma correction
Support for interlacing
Typically compresses images 5% – 25% better than GIF
