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Types of compression are lossless and lossy.

Lossless compression is when an image file size is reduced without any quality loss. Most of the time it done by removing unnecessary metadata from JPEG and PNG files. Other lossless compression are RAW, BMP and GIF.

Lossy compression is when an image file size is reduced but with the cost of quality. Lossy compression is also called irreversible compression because it's impossible to get the data that been stripped away.Examples for lossy compression are JPEG image, MPEG video and MP3 audio formats.

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