PNG doesn't make that trade-off.
No, but PNG makes a different
tradeoff... a maximum width-by-height resolution for a given number of output bits.
They're both lossy, just in different directions. Information theory says so. You take the entire rich original experience, and put it into 100K. PNG and JPEG just do it differently. PNG sacrifices width-and-height, while JPEG sacrifices some of the subtler items of a natural image.
-- Randal L. Schwartz, Perl hacker
Be sure to read my standard disclaimer if this is a reply.