Android Studio 2.3 is released and it now supports WebP format also. My question is, can I completely dump PNG format for images and use WebP format instead? Is it possible to completely use WebP images only instead of PNGs everywhere in the app?
As per google
Because support for lossless and transparent WebP images is only available in Android 4.3 and higher, your project must declare a minSdkVersion of 18 or higher to create lossless or transparent WebP images using Android Studio.
You can find more about webp and its usage at here