GIF format is one of the most common image file formats on the Internet along with JPEG and PNG formats, and well-supported on most browsers because it was developed in 1987, a long time ago.
The most distinctive feature of GIF is that it may give animation to an image file. Animated GIF file is an image that includes motion like a video and repeats continuously. Many websites use the format to replace short and small-sized videos.
GIF supports up to 256 different colors, which means the format has a limit to display a high-quality image; there may be severe quality deterioration when you make an animated GIF file from your video.
▲ Example of deteriorated GIF file
However, Honeycam can minimize the drawback of GIF through 256-color quantization and create an animated GIF file of ultrahigh-quality, as similar as possible to the original video.
WebP format was developed by Google in 2010 for replacement of JPEG, PNG, and GIF formats on the Web. The format supports both lossy and lossless compression and has a higher compression ratio than conventional JPEG and PNG have.
WebP also supports the animation feature as GIF does and an animated WebP file is much smaller than GIF one; if they have the same content, the WebP file is about 10% ~ 20% in size compared to the GIF file.
There weren't many browsers that supported WebP in the past, but now, WebM is supported on almost all browsers except IE(Internet Explorer) so images in this format can be viewed without limitation on almost any device.