WEBP file is an image saved in the WebP (pronounced “Weppy”) raster image format developed by Google for web graphics.
It is designed to reduce image filesizes over standard JPEG compression while maintaining the same or similar quality. WEBP files allow images to be downloaded more quickly. Lossless WebP supports transparency (also known as alpha channel) at a cost of just 22% additional bytes. For cases when lossy RGB compression is acceptable. lossy WebP also supports transparency, typically providing 3× smaller file sizes compared to PNG.
WebP is an image format employing both lossy and lossless compression. Currently, Current versions of major browsers such as Google Chrome, Firefox, Edge and Opera all support WebP, and there’s also support WebP on Photoshop and GIMP.
lossy WebP also supports transparency, typically providing 3× smaller file sizes compared to PNG. WebP is an image format employing both lossy and lossless compression. Smaller and similar quality images means your site will load faster, but your visitors will actually have an ever better experience, considering your page and images will load a lot faster. And since Google and other search engines prioritizes sites with faster loading times, there’s a huge chance that this will boost your search engine ranking.
Issue with the WebP is that as WebP being fairly new, that not all browsers and old versions are not ready to support this format.