It belongs to TrueType and OpenType font formats and has analog compression that stores rendering technology. In WOFF it’s possible to store individual metadata with font info. It’s been used since 2010 for the main purpose of storing and transferring fonts on the Internet. It was developed by the Mozilla Foundation.
This format was developed to simplify use of Type1-fonts in some software. It’s 8-bit and so it’s quickly processed by programs and it has a compact structure. PFB contains additional metadata. Besides the storage of system fonts, a good example of its use is its application in AutoCAD to create font files with compilation.