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PNG stands for “Portable Graphics Format”. It is the most frequently used uncompressed raster image format on the internet. This lossless data compression format was created to replace the Graphics Interchange Format (GIF). PNG file format is an open format with no copyright limitations. Like GIF images, PNG also have the ability to display transparent backgrounds. In addition to that, PNG files are capable of containing 24bit RGB color palettes and greyscale images. Basically, this image format was designed to transfer images on the internet but with PaintShop Pro, PNG files can be applied with lots of editing effects.