Hello, I would like to suggest supporting WebP as a format for upload.
According to it's own documentation:
WebP is a modern image format that provides superior lossless and lossy compression for images on the web. Using WebP, webmasters and web developers can create smaller, richer images that make the web faster.
WebP lossless images are 26% smaller in size compared to PNGs. WebP lossy images are 25-34% smaller than comparable JPEG images at equivalent SSIM quality index.
Here's a comparison of the same image using JPEG (542.8 kB) and WebP (63.2 kB) with no visual degradation. I used the default preset, but the webp convert utility also has presets for pictures, photos, drawings and others.
Virtually every browser supports WebP currently, the notable exception being Safari on desktop.