Trivia : Why choose PNG over GIF in an app
Never bothered to think about this aspect until today, when the choice of the format made a ton of the difference to the output!
Via C# Corner :
First off, why use PNG instead of GIF? Probably the most important reason is that GIF supports a maximum of 256 colors. The second reason is Unisys has a lockdown on the rights to LZW compression which the GIF format can, and usually does use.