GIF has been around for a very long time and is even a live in this digital age. I can’t say that it will be purely overtaken by PNG because there are still lots of people who use GIF format images. From a non-tecchie viewpoint, PNG would surely attract you than a GIF does especially if it deals with transparency.
GIF stands for Graphics Interchange Format, was developed in the late 1980’s and it is still widely used until now. PNG means Portable Network Graphics was developed around 1995 and became a W3C recommendation in 1996. I myself am impressed with how PNG displays itself with transparency involved. I had never wanted to get involved with PNG, not until Mac OS Widgets and Windows Vista Gadgets came to be. I wanted to check them out for myself how they work and since they standardized PNG as its format for its images, that was when I finally got to explore it. Boy, did it open my eyes regarding transparency, it’s way much better than GIF. PNG also compresses better than GIF in almost every case. The only drawback for PNG would be that in some old browsers, even Internet Explorer version 6, is not supported. But in many ways, I think it is superior to GIF. What do you think?