WebP is an image format developed by Google in 2010. It is a more efficient alternative to the popular JPEG and PNG formats, offering both lossy and lossless compression for images. WebP images are typically smaller in size than their JPEG and PNG counterparts, allowing for faster loading times and improved performance on websites.
All sub-pages optionally support automatic conversion of uploaded images to webp file format. To convert images to webp format, make sure the webp toggle is enabled before uploading.
However you should note that webp support is not there in old IE and safari browsers. Which means either the image will not display or will not show with all style settings.
For more information on webp support , please read this article
