PNG stands for Portable Network Graphics, which is a file format for digital images. It was designed to replace the GIF file format and has become one of the most popular image formats on the web. PNG supports lossless compression, which means that the image quality is not compromised even after compression. It also supports transparency, allowing the creation of images with transparent backgrounds. This makes it particularly useful for logos, icons and other graphics that need to be placed on different backgrounds. PNG files can be created and edited using various image editing software, such as Adobe Photoshop.