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MKV is an open-source, container-based video format designed to hold multiple types of content, including video, audio, subtitles, and chapters. It’s ideal for high-definition videos due to its flexibility and the ability to store large files. MKV is widely used for HD video streaming and supports a variety of codecs.
MP3 is an audio format that can compress and encode an audio file. It uses the lossy compression algorithm to contain audio data. The lossy compression helps to reduce the data significantly without losing audio quality. MP3s are created using different bit rates maintaining the original quality.