Take advantage of lossy quality in the browser cache?

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The idea is to have an option to replace big images in the cache folder with smaller ones of lower quality, different format or resolution. When I looked at my browser cache. The space were mainly filled with .png images. Because this was a poor choice of format for photos I would like to store certain images above a threshold in a .webp format as a replacement in the cache. I think this allows for much larger covering cache for the same size.