The TIFF is a flexible format that can represent everything from fax images to photos compressed or uncompressed as a bitmap, including additional image information like EXIF. TIFF supports up to 16bit per channel, transparency, multiple images, 2D images in multiple planes. It is widely used by scanners and fax machines due to its support for all possible color depths and multiple images (for example the pages that are scanned/faxed). It gets also used in digital cameras as a lossless format.
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