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QOI, the Quite OK Image format, has been gaining in popularity. Chris Wellons offers a great analysis.

QOI's key advantages is its simplicity. Being a byte-oriented format without entropy encoding, it can be further compressed with generic data compression programs like LZ4, XZ, and zstd. PNG, on the other hand, uses DEFLATE compression internally and is typically resistant to further compression. By applying a stronger compression algorithm on QOI output, you can often achieve a smaller file size compared to PNG.