What a PNG file actually is
PNG arrived in 1996 as a patent-free replacement for GIF and compresses with DEFLATE — the same algorithm as ZIP. Nothing is discarded, so a PNG decodes to exactly the pixels that went in, and it carries a full 8-bit alpha channel rather than GIF's single transparent colour.
Screenshots on every operating system default to PNG, as do exports from design tools and most logo and icon assets. Anything with crisp edges, flat colour or a transparent background has probably been living as a PNG.
What you get from JPG
Saving as JPEG re-encodes the image with lossy DCT compression at a quality level you choose. Around 80% is the usual sweet spot: files shrink dramatically and the difference is invisible at normal viewing sizes.
Nothing in mainstream computing fails to open a JPEG. Thirty-year-old software, print shops, hospital systems, government upload forms, every phone and every browser — if a system takes images at all, it takes JPG.
What changes when you convert PNG to JPG
This is where the file size actually drops. A PNG stores its image without discarding anything; JPEG works in 8×8 blocks and throws away the fine detail inside each one, then usually halves the colour resolution as well through chroma subsampling. Photographs take that treatment invisibly. Flat colour, text and sharp edges do not — they are where the block boundaries and coloured fringing show up, so keep the quality high if the image contains any.
Transparency is the thing to watch. PNG can store transparent areas and JPG cannot, so anything see-through is composited onto a white background during conversion. A logo with soft edges will show a white fringe when placed on a coloured background afterwards. If the transparency matters, convert to PNG or WebP instead.