What does the PNG format support that JPEG does not?

The PNG format supports advanced transparency, which allows for varying levels of opacity in images. This capability enables images to have smooth edges and subtle transitions between transparent and opaque areas, resulting in high-quality graphics that can be layered over different backgrounds seamlessly.

In contrast, JPEG images do not support transparency; they use a square canvas where all pixels are filled in, making them unsuitable for images that require transparent backgrounds. This distinction is particularly important in web design and graphic applications where layering images is common.

The other options regarding file size, color range, and loading times do not reflect the primary advantage that PNG has over JPEG; these formats serve different purposes and balance these factors differently based on their intended use.