What are the performance implications of using different image formats on the web?

Different image formats have varied compression algorithms. For instance, JPEG is a lossy format and compresses well, making it suitable for photographs. PNG is lossless, which means it retains all image data and is ideal for graphics with transparency. The choice of image format directly impacts webpage load time, as it determines the file size. A smaller image size will load faster, improving the page's performance. While other options are correct to some extent, the primary performance implication directly relates to compression and file size.