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There are many fantastic points and examples in this essay by Phillip Hoyt. One of the most unique items he brings up is the file type's abilities with regards to Gamma Correction. "From the LibPNG site: "Gamma correction basically refers to the ability to correct for differences in how computers (and especially computer monitors) interpret color values." There are two factors here: the ability to predict what an image, say a photograph, will look like on another monitor; and the ability to match the colours from different sources on a single page.