WebP is a newer image format developed by Google and announced in 2010. It was created to be an alternative to formats like PNG and JPEG, producing much smaller file sizes while maintaining similar image qualities. Unlike other formats, WebP supports both lossy and lossless compression, as well as transparency and animation.
WebP images are supported in Chrome, Firefox, Opera, Safari 14 and Microsoft Edge browsers, but has been notably absent from both IE11 and older Safari versions.
Cloudimage provides a functionality to take an image file (JPEG or PNG) and to convert it on the fly to WebP image format, if the browser supports it. Otherwise, it will deliver the image in JPEG or PNG format so to keep things working without any breakage.
You have an option to activate/deactivate this feature from the Cloudimage settings console: