This format is used for storing several types of bitmaps, including animations. MNG allows you to store lossy and lossless images with compression. This format provides you with more options than GIF for saving animated files while keeping the original image size.
PNG is a raster graphic data storage format that uses lossless compression algorithm to Deflate. PNG was created as a free format to replace GIF. PNG supports three main types of raster images: grayscale image, a color indexed image and the color image. PNG format stores graphical information in a compressed form.