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PNG is a lossless image format that supports transparency, making it ideal for logos, icons, and web graphics. Unlike JPEG, PNG doesn’t lose any image data during compression. It retains high-quality detail, especially in images with sharp edges, and is commonly used for design work where transparent backgrounds are required.
PSD is a file format used by Adobe Photoshop for storing images with multiple layers. It allows for detailed editing and manipulation of image elements. PSD files can be easily modified, making them a popular choice for graphic designers and digital artists. They can be saved in other formats like JPG or PNG for sharing.