Graphics Interchange Format (GIF) is a bitmap image format that supports both static and animated images. Introduced by CompuServe in 1987, GIFs became popular due to their ability to store multiple frames, creating simple animations. They are widely used on the internet for memes, short clips, and graphics with limited color palettes. GIFs use lossless compression, which means they retain the original image quality while reducing file size. Despite the rise of other formats like PNG and MP4 for high-quality images and video, GIFs continue to be a favorite for short, looped animations on social media and messaging platforms.