Penguin
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Short for Portable Network Graphics, and pronounced ping, a new bit-mapped graphics format similar to GIF. In fact, PNG was approved as a standard by the World Wide Web consortium to replace GIF because GIF uses a patented data compression algorithm called LZW. In contrast, PNG is completely patent- and license-free. The most recent versions of NetscapeNavigator and Microsoft InternetExplorer now support PNG

PNG is an Acronym