Is WebP faster than JPEG/PNG?

I was testing my blog at google page insight. It recommends me to use WebP instead of JPEG/PNG for better optimization. Is the format really fast? if yes, how can implement on my blog? :slight_smile:
@GulshanKumar

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You can use a free plugin called shortpixel to do so. however i have not found any significant changes by using webp. Infact i find properly resized jpeg works better for me.
Also in a recent blogpost from backlinko they had measured a lot of factors affecting speed and webp was not one of the major ones among them.
Let me know your experience if you decide to go for it.

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yea, I’ve aimed to test it. I’ll share my experience. Before doing anything, want to read Brian Dean’s speed post.