Facebook, what is WebP format of photo

Question

In this reference of the "photo" table on Facebook, there was a new image format, which is called WebP format, any one knows what's the difference between this format and some other formats like JPEG or PNG? Is this kind of image used on handsets?

Answer 1

It's a image format created by Google that's around 20% smaller than JPG.

https://developers.google.com/speed/webp/

It's supported in Google Chrome and Android 4.0+