https://chromium.googlesource.com/codecs/libwebp2/
What to expect?
The WebP 2 experimental codec is mostly pushing the features of WebP further in terms of compression efficiency. The new features (like 10b HDR support) are kept minimal. The axis of experimentation are:
- more efficient lossy compression (~30% better than WebP, as close to AVIF as possible)
- better visual degradation at very low bitrate
- improved lossless compression
- improved transparency compression
- animation support
- ultra-light previews
- lightweight incremental decoding
- small container overhead, tailored specifically for image compression
- full 10bit architecture (HDR10)
- strong focus on software implementation, fully multi-threaded
- The use cases remain mostly the same as WebP: transfer over the wire, faster web, smaller apps, better user experience... WebP 2 is primarily tuned for the typical content available on the Web and Mobile apps: medium-range dimensions, transparency, short animations, thumbnails.
WebP2 is currently only partially optimized and, roughly speaking 5x slower than WebP for lossy compression. It still compresses 2x faster than AVIF, but takes 3x more time to decompress. The goal is to reach decompression speed parity.