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https://en.wikipedia.org/wiki/Portable_Network_Graphics
PNG itself does not support animation at all. MNG is an extension to PNG that does; it was designed by members of the PNG Group. MNG shares PNG's basic structure and chunks, but it is significantly more complex and has a different file signature, which automatically renders it …Developed by: PNG Development Group (donated to W3C)
https://stackoverflow.com/questions/2639866/jpeg-image-with-alpha-channel-on-website
Unless browsers give us support for alpha channel or a new image format there will be only workarounds. Using a jpeg for image and a png for mask would reduce drastically the size, but will increase the file count (2 IMAGE+ALPHA instead of 1 IMAGE with ALPHA).
https://community.adobe.com/t5/photoshop/how-do-i-save-a-png-file-with-an-alpha-channel-in-photoshop-cs5/td-p/5369920
Aug 22, 2013 · I have a PNG file created in Photoshop and I need to save it with an alpha channel for web purposes. I tried 'Save for Web & Devices' and selecting the Transparent box. Then, after saving, when I select 'get info' for the file it says there is no alpha channel. I'm stumped I …
https://answers.yahoo.com/question/index?qid=20110228211016AAQ9RGN
Feb 28, 2011 · PNG pretty much obsoletes GIF in nearly all cases except for animation (although it still have a little bit of browser support problem, IE6 doesn't support PNG's alpha transparency although regular GIF-like transparency is no problem). PNG is lossless format which means color information is fully intact. GIF is nowadays only useful for animation.
https://en.wikipedia.org/wiki/Transparency_(graphic)
PNG and TIFF also allows partial transparency, which solves the edge limitation problem. However, support is even more patchy. Internet Explorer prior to version 7 does not support partial transparency in a PNG graphic. Very few applications correctly process TIFF files with alpha channels.
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