Difference between JPEG and GIF

JPEG and GIF are two different types of format used to store the images. JPEG: JPEG stands for Joint Photographic Experts Group. .jpg and .jpeg extensions are used to store image in this format. It uses lossy compression algorithm, it means some of the image data is lost.
GIF: GIF stands for Graphics Interchange Format. For GIF extension used is .gif. It uses lossless compression algorithm. GIF is generally smaller in size and supports animation & transparency.
Difference between JPEG and GIF:

JPEG	GIF
It stands for Joint Photographic Experts Group.	It stands for Graphics Interchange Format.
It uses lossy compression algorithm.	It uses lossless compression algorithm.
Some of the image information is lost on decompression.	No image information is lost on decompression.
It supports 16 million colors.	It supports only 256 colors.
It doesn’t support transparency in the images.	It supports single bit transparency in the images.
Extensions used are .jpg and .jpeg.	Extension used is .gif.
Mostly used in the photography.	It is mostly used in computer generated images and logos.
It doesn’t supports animation.	It supports animation.